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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

23 - 27 January	weekly forecast 23 - 27 January Weekly Review Brent OIl Review Wave Analysis During the previous trading day, the Brent Oil Rallied to the upperside and is still above 86.762. As long as the price remains above 86.762, we expect nothing but a possible momentum to the upperside. The idea is to keep looking for long term buy position towards More
2023	EURUSD	GBPUSD	USDJPY
27 January	We're short for the current pullback Wave Analysis EURUSD has been on a strong uptrend from 0.95429 up to now. The market has already completed forming the major 5 waves pattern what we expect now is for the market to form a corrective 4 waves pattern that is from 1.08630 to around 1.07278. Again the market moved in for of an ascendi More	We're short Wave Analysis GBPUSD is still forming the 5 major impulsive waves. The market has been correcting from major wave III,1.24336, in form of an expanding wedge. If the market forms an expanding wedge on an uptrend that normally signals a trend continuation. So now we expect the uptrend to continue. I More	We're sellers Wave Analsis: USDJPY has been moving in form of a descending channel from 142.137 to where the market is now,130.237. The market is currently forming the corrective 3 minor waves. There is a support level at 129.079 which the market respected again there is a resistance level around 130.721. I expe More
26 January	We're buyers	We're short	We're sellers
25 January	We're short	We're sellers	We're sellers for now.
24 January	We're long towards 1.32	We're buyers towards 1.24335	Look for sell positions towards 121.90
23 January	We're buyers towards 1.12	We're waiting for a bearish correction.	We're sellers towards 127.242

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Elliott waves analysis

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