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Elliott waves analysis

This forecast is based on the Elliott Wave Principle which states that investor psychology is the motor behind the stock markets. In this analysis however, the analyst not only observes the previous price patterns, but also takes into account the correlation between different pairs before releasing forecasts.

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Elliott waves analysis

2024	EURUSD	GBPUSD	USDJPY
25 October	EUR/USD. Correctional uptrend has started. The price is attempting to rise again. It’s understandable, given that the pressure exerted by sellers has stretched out, and every tolerance threshold is reaching its limit. Now, there is a good opportunity for buyers to respond to sellers, and this could mark the beginning of a corrective uptren More	GBP/USD. Continuation of the correctional rise is expected. Previously discussed scenario involved the development of the wave b in a bearish zigzag pattern, which might take the form of a horizontal triangle. The price managed to bounce off the lower boundary and shows signs of growth. If this scenario plays out, today's movement could indicate the beginn More	USD/JPY. Awaiting the completion of the current correction. The expectation that the price will continue falling due to the ongoing correction in the form of the double zigzag is now doubtful. The recent rally indicates that the bearish pressure is easing, and the price has not reached the target level of 91.4% according to the Fibonnacci Retracement. Thus More
24 October	EUR/USD. Expectations of a response from buyers remain.	GBP/USD. A downward corrective structure is likely being developed.	USD/JPY. Yen's last chance.
22 October	EUR/USD. The price is ready to grow.	GBP/USD. Pound will make another attempt to grow.	USD/JPY. Another attempt at a turnaround is expected.
21 October	EUR/USD. Transition to a brief correction.	GBP/USD. A rise is expected within the forming correction.	USD/JPY. Expectations of the development of a downward impulsive movement remain.

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Elliott waves analysis

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