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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

03 - 07 April	weekly forecast 03 - 07 April Gold still to rise Gold Weekly Review Wave Analysis : During the previous trading week, Gold markets rose to the upper side, hit the highs of 1258.5 but ended up closing just a few pips above it's weekly opening price. About three weeks ago, the corrective wave (b) traded short but could not go beyond 1 More
2017	EURUSD	GBPUSD	USDJPY
07 April	We went short from 1.06768 Wave Analysis: Following the rejection from 1.06768, the pair rallied to the lower side but is yet to hit our target take profit at 1.06194. As long as the pair remains below 1.06768, we expect to continue short short with the impulsive wave (c) with our first target at 1.06194 and the next target More	Contracting wedge Formation Wave Analysis: Since 28th March 2017, the cable entered into a contracting wedge not going above or below the trend lines forming top or bottom of this wedge. Unless there's a clear break out of this wedge, we choose to remain flat momentarily and wait for this breakout to go short or long dependin More	Still holding onto our Sell position Wave Analysis: Following the bearish pin bar candle seen on 5th April 2017, (on the daily chart); the US Dollar retraced to the upper side towards 110.89 before plunging to the lower side. During this intraday, we expect a possible second retest of this zone, 110.84-110.74, to pick sell orders at l More
06 April	Expect a rejection from 1.06768 to go short with an ideal target at 1.06194.	The cable fails to go below 1.2440 but still within the upper resistive trendline	Bearish pin bar on the daily chart
05 April	Euro still short but should retrace up to 1.06976	Wait for a clear break below 1.2407 to go short towards 1.2156	We went short from 111.90
04 April	Minor consolidations below 1.06795 but still bearish	Clear rejection from the upper resistive trendline	We went short from 111.90
03 April	We're still short	Expect a possible mometum towards 1.2725	We still expect further momentum to the lowerside

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Elliott waves analysis

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