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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.

Elliott-Wellen Analyse für Forex

Support and resistance system should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.

How I draw strong support and Resistance

Before I call a level strong, the same level must met the following conditions.

  1. Must have been used as a support before.
  2. Must have been used as a resistance before.
  3. There must be a big candle that broke through it at one point in the past!

Again, when drawing my support and resistance levels, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.


Wave Analysis As previously anticipated, we are currently seeing a correction to the upperside, we don't expect a breakout above the upper trendline. If the price rebounds from the upper trendline, then this will be a good place to consider a possible long term sell position.The anticipated sell

Wave Analysis Yesterday, the British pound continued to the upperside and is still pretty much bullish both on the daily and on the 4 hours time frames. As long as the price remains above the lower trendline, we are looking for long term buy positions expecting a breakout above the upper trendlin

Wave Analysis Yesterday, the US Dollar could barely contain itself below the lower trendline. After a rebound from around 103.570, the US dollar moved massively to the upperside and is now touching the upper trendline. We are waiting for a clear sign that the price is above the upper trendline to

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