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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
22 November	EUR/USD. The downward impulse is nearing completion. The price during the past trading day fully confirmed the expectations placed on it. After fluctuating for some time within a certain range, the downward movement resumed, leading to the update of the current local minimum. This likely marked the beginning of the final wave 5 in the forming downwa More	GBP/USD. The downward impulse is nearing completion. The price movement pattern of the British pound has recently resembled that of the euro. Here, too, a downward impulse is likely developing, which is wave [c] of a zigzag. The price is now in the final part of this model, wave 5, and its completion is imminent. Sellers are likely to try to complet More	USD/JPY. The dollar will make another attempt to rise. While the dollar is successfully strengthening against the pound and euro, some problems have arisen with the yen. Having started to grow confidently and clearly aiming to update the current local maximum, the price suddenly stalled and allowed sellers to push it back to the lower forming line of More
21 November	EUR/USD. A decline in the fifth wave of a bearish impulse.	GBP/USD. A decline in the fifth wave of the impulse will continue.	USD/JPY. A final upward surge is possible.
20 November	EUR/USD. Expectations for the development of the final wave of the downward impulse remain.	GBP/USD. A decline is expected in the final wave of the downward impulse.	USD/JPY. The beginning of the development of the final wave of the final diagonal triangle.
19 November	EUR/USD. A decline is expected in the fifth wave of the downward impulse.	GBP/USD. The downward movement will resume soon.	USD/JPY. Growth in the final wave of the final diagonal triangle.
18 November	EUR/USD. Price is in a sideways range before the final downward push.	GBP/USD. Possibly the beginning of a corrective growth.	USD/JPY. The yen is showing signs of life again.

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Elliott waves analysis

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