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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

22 - 26 May	weekly forecast 22 - 26 May Weekly Review SPX500 Weekly Review The S&P 500 (SP500) has exhibited a bullish trend for the majority of last week. The market has been forming the impulsive (V) wave pattern, and according to the chart provided, it has already completed the formation of the impulsive (V) wave pattern. Currently, the market i More
2023	EURUSD	GBPUSD	USDJPY
26 May	We're long The market has followed our previous analysis (dated 25/5/2023) as expected, completing the formation of the outer impulsive V wave pattern. Given that this impulsive phase was bearish, we anticipate the price to enter a corrective phase characterized by an ABC corrective pattern. Our projection is More	We're long GBPUSD has completed the formation of the major (outer) impulsive V wave pattern. The current price is still at the level of the major impulsive wave V, specifically at 1.2306. With the impulsive phase concluded, we now anticipate the market to enter a bullish corrective phase, considering that th More	We're long The movement of USDJPY continues to align precisely with our previous analysis (dated 25/5/2023). Since the beginning of this week, USDJPY has displayed a strong bullish momentum, and we anticipate this trend to persist for another day or two. At present, the market is still in the process of formi More
25 May	We're sellers	We're buyers for now	We're long
24 May	Look for buy orders for now	We're buyers for now.	We're buyers for now
23 May	Wait	We're looking for buy positions	We're long
22 May	Short for now	We're short for now	We're short

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Elliott waves analysis

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