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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
23 February	EUR/USD. Price Forms an Initial Diagonal Triangle. The market has decided to make some adjustments and slightly alter the emerging wave pattern. Initially, everything seemed to be going well and confirming the assumption of an extension in the third wave of the upward impulse. However, after confidently updating the local maximum, a sharp reversal More	GBP/USD. The Price Retains Good Chances for Impulsive Growth. The British pound failed to establish a confident directional upward movement. After barely updating the local maximum, thereby activating a buy signal, the price sharply declined but not significantly. Buyers promptly caught the price near the level where this last, current rise began. However, o More	USD/JPY. Confident Rightward Movement Continues. The situation regarding the considered pair remains dull. There is still no significant activity. The price is trading confidently within a certain range, without making any efforts to break out of it. As long as the price remains in this sideways movement, considering this instrument for trading More
22 February	EUR/USD. The euro gains momentum.	GBP/USD. Expectations for a fifth wave impulse remain.	USD/JPY. The price remains in a narrow price range.
21 February	EUR/USD. Probability of Further Upside Remains High.	GBP/USD. Expectations of Impulsive Growth Remain.	USD/JPY. Price Continues to Keep Intrigue.
20 February	EUR/USD. Price growth is temporarily postponed.	GBP/USD. The pound risks losing its chance for significant strengthening.	USD/JPY. Chances of Impulsive Decline Remain.
19 February	EUR/USD. The euro has demonstrated the seriousness of its intentions.	GBP/USD. Impulsive Growth in the Fifth Wave.	USD/JPY. The Price Still May Initiate Impulsive Decline.

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Elliott waves analysis

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