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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 waves analysis

2024 EURUSD GBPUSD USDJPY
09
February

The price attempted to resume the impulsive decline, but the euro vehemently opposed this idea, halting the movement and attempting to rise. Currently, all movement is within a narrow price range and is considered a continuation of the presumed corrective wave [2]. Therefore, after another small w

The attempt to resume the downward movement proved unsuccessful. The ensuing decline was quickly bought up, and it's unlikely that buyers will stop there. However, the subsequent rise is expected to be modest and overall will likely result in the formation of a zigzag pattern. Subsequently, a resu

Buyers have decided not to postpone their actions, resuming their activity. As a result, the prolonged correction that was expected did not occur, and the price began to rise, reaching a new local high. It is likely that this marks the beginning of the development of the final wave y of (ii) in th

08
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