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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
08 March	EUR/USD. Continuing the impulse growth. The market has come alive. As anticipated, the price continued to rise. However, it was not without its adventures. In an attempt to shake off unnecessary "passengers," there was a swift retracement, which was quickly bought up. The price not only returned to previous levels but also significantly More	GBP/USD. Further Impulse Growth Expected. Nothing significantly important or extraordinary happened during the past trading day for the pair under consideration. Activity noticeably increased and came from buyers, as expected. The price is moving steadily higher and has already surpassed this year's maximum. Ahead lies the local maximum More	USD/JPY. Price Set for Prolonged Impulse Decline. The trading pair under consideration has finally started moving. The price has remained in a sideways range for a long time, relying on the designated support level. The breakthrough of this level led to a strong downward movement. Thus, the development of an impulse, which is part of wave (iii), More
07 March	EUR/USD. The ascending trend is strengthening.	GBP/USD. Growth in the fifth wave of the ascending impulse.	USD/JPY. The beginning of an impulsive price decline is established.
06 March	EUR/USD. The market is complicating things once again.	GBP/USD. The situation remains under the control of buyers	USD/JPY. Expectations remain unchanged.
05 March	EUR/USD. Retest of the broken sloping level followed by growth.	GBP/USD. The price will continue its impulsive growth.	USD/JPY. The yen remains inactive.
04 March	EUR/USD. Another attempt to form an upward impulse.	GBP/USD. An ascending impulse growth is expected.	USD/JPY. The yen is expected to attempt to break through the buyers' defense.

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Elliott waves analysis

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