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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

25 - 29 November	weekly forecast 25 - 29 November Weekly Review Gold Weekly review Wave Analysis According to the daily chart attached, Gold markets are currently in a corrective mode. Last week, this metal, rose tremendously but could not breakout above the level 1480.20. As long as the price remains below this level, we expect nothing but a possible momen More
2019	EURUSD	GBPUSD	USDJPY
29 November	Sell a break below 1.0999. Wave Analysis On 27th of November, Euro bounced of from the 30 minutes support level 1.0999 and could not breakout lower. We expect this bounce to have marked an end to the impulsive wave 5 that the current bullish price rally is the continuation of a corrective three wave cycle and should not bre More	Sell a bounce from the upper trendline. Wave Analysis Even after a momentum to the upper side, the cable still could not reach the upper trendline, other than this trendline, the next level is 1.2980. as long as the price remains below these two,. we expect further momentum to the upperside, and should the price breakout and close above More	Wait Wave Analysis During the previous trading day, the impulsive wave (5) failed to breakout above the upper trendline, instead the pair corrected it self to the lowerside and is still showing signs of further corrections to the lowerside. We expect the current bearish price price rally to be a mere c More
28 November	Expect a possible bullish correction towards 1.1030.	Wait	Remain long towards 110.00.
27 November	Wait for a break below 1.0996 to pick a sell.	Sell the cable with your take profit at 1.2700.	Buy the US Dollar with your take profit at 110.00.
26 November	Sell a break below 1.0995.	Sell cable towards the 1.2770.	Buy US Dolar towards 109.75.
25 November	Sell a break below 1.0995.	Sell GBPUSD towards 1.2770.	Buy Us Dollar with an ultimate target at 110.00.

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Elliott waves analysis

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