Picture of the author

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
05
April

The beginning of the past trading day, as expected, remained in favor of the euro. The price continued to rise and updated the local maximum, completing the formation of the first part of the correction, presumably taking the form of a simple zigzag. This was followed by a movement in the opposite

The trading pair in question has chosen not to invent anything new, continuing to realize a scenario similar to what we observe with the EUR/USD pair. At the moment, it is likely that a correction within the forming zigzag, which is wave [b], is taking place. This may take some time, and most like

The price has been struggling against the resistance level for a long time and cannot overcome it. The movement has almost formed a straight horizontal line along the level, but this cannot continue for long. Eventually, the forces of one of the opposing sides will deplete. And now, there is an a

04
April
03
April
02
April
01
April
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .