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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

12 - 16 October	weekly forecast 12 - 16 October Weekly Review ASX Weekly Review Wave Analysis Last week, the Australian index rallied massively to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is on this chart, we are expecting a possible momentum to the upperside and should breakout beyond the upper tren More
2020	EURUSD	GBPUSD	USDJPY
16 October	Remain short towards 1.16249 Wave Analysis During the previous trading day, Euro continued significantly to the lowerside and is still showing signs of continuing to the lowerside. While we continue to see sustenance below the supportive trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bea More	Sell break below 23.6% fib level towards 1.27188. Wave Analysis After bouncing off from near 50.0% fib level, the British pound continued to the lowerside and is still pretty much bearish both on the daily and on the daily chart. As long as the price remains below 50.0% fib level, we expect nothing but a possible momentum to the lowerside. The an More	Look for sell positions towards 104.030. Wave Analysis After bouncing off from the upper trendline, the US Dollar moved massively to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lower. The More
15 October	Look for long term sell positions towards 1.16141.	Sell a round from around 1.30270.	Look for long term sell position towards 104.160
14 October	Look for long term sell positions.	Remain short towards 1.26680.	Sell USDJPY now, your stoploss above 106.180 and take profit at 104.030.
13 October	Remain short towards 1.16249.	Look for buy positions towards 1.33799.	Remain short towards the lower trendline.
12 October	Wait for a possible rebound from around 1.18 to pick a sell position with your target at 1.16249.	Wait to rebuy with your target at 1.33799	Look for sell positions towards 104.090.

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Elliott waves analysis

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