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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

29 May - 02 June	weekly forecast 29 May - 02 June Weekly Review Silver Weekly Review XAGUSD is currently in the process of forming the impulsive (V) wave pattern.Although the current price trend is bearish, we anticipate it to be a short-term movement, considering it as a corrective minor wave (IV). Furthermore, we observe the formation of an ascending channe More
2023	EURUSD	GBPUSD	USDJPY
02 June	Wait EURUSD is still undergoing a corrective phase, following the ABC corrective pattern. The market is currently at the minor wave "a" level of 1.0767, which also coincides with a significant zone of resistance. I anticipate that the market will form a double-top pattern at this zone, followed by a cor More	We're long GBPUSD is displaying strong bullish momentum and is moving in line with our prediction from yesterday's analysis (6/1/2023). The market remains in a corrective phase, following the ABC corrective pattern. Currently, the market is forming the minor wave "c", with our target set at 1.2562. I anticipa More	We're sellers USDJPY has exhibited a strong bearish trend over the past few days. At present, the market is undergoing a corrective phase, following the ABC corrective pattern. Both the minor wave "A" and minor wave "B" have already formed, and the market is currently in the process of forming the minor correcti More
01 June	We're short for now	We're short	We're short
31 May	We're long	Sell for a very short time	We're short
30 May	We're short	We're buyers for now	We;re short for now
29 May	We're buyers for now.	Look for buy positions:	We're sellers

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Elliott waves analysis

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