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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

10 - 14 July	weekly forecast 10 - 14 July Weekly Review Silver Weekly Review XAGUSD is displaying a strong bearish bias at present. The market is in an impulsive phase, with the current price situated at major wave 'IV' at 23.140. Our expectation is for the market to form a double top pattern at this zone and subsequently undergo a decline towards th More
2023	EURUSD	GBPUSD	USDJPY
14 July	We're waiting for a correction EURUSD is presently in the midst of an impulsive phase, with the price situated at major impulsive wave "III" at 1.1224. Our analysis indicates the potential emergence of a bearish reversal pattern in this zone, possibly a double-top formation. In line with this pattern, we anticipate a subsequent More	We're long for now GBPUSD has displayed a bullish trend since the commencement of this week. The market is currently in the process of forming the major impulsive wave "V". Based on our analysis, we anticipate continued upward momentum, with a minimum target set at 1.3259. Reaching this level will signify the complet More	We're sellers for now but we're waiting for a bullish correction USDJPY remains strongly bearish, with the market currently in a corrective phase following the ABC corrective pattern. The price is currently at the level of minor wave "a" at 137.86, which aligns with a notable support zone. Our analysis indicates the potential formation of a bullish reversal patt More
13 July	We're short for now	Look for low risk buy orders	We're long for a short time
12 July	We're long	We're long for now	We're short for now
11 July	We're still long from the previous analysis	Buy GBPUSD	we're short for now
10 July	We're waiting for a bearish pullback	We're buyers for now	We're buyers for now

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Elliott waves analysis

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