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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

13 - 17 February	weekly forecast 13 - 17 February Gold, Silver Oil weekly review Gold Weekly review: Wave Analysis: During the previous trading week, gold market rallied on the higher ranges as previously forecasted and is still pretty much bullish both on the daily and weekly charts. During this week, we still expect further acceleration to the upper side towards 1253 bu More
2017	EURUSD	GBPUSD	USDJPY
17 February	Still long but only upto 1.0698 Wave Analysis: As previously forecasted, the impulsive wave (c) traded massively long but is yet to reach our target at 1.0693. We expect further momentum towards this level and could probably break above 1.0710 towards 1.0785. In the meantime, we choose to hold onto a our previous buy position tow More	Still above 1.2461 and bullish Wave Analysis: As expected, the opening of a bullish engulfing candle witnessed on Feb 7th 2017 held true as a key demand level during the previous trading day and will likely hold true as a key buy level during this intraday. As long as the pair remains above 1.2461 and most importantly 1.2414, we More	Flat momentarily Wave Analysis: As previously forecasted, the corrective wave (b) retraced to the lower side but is currently stalling around a key support level 113.28. We expect a possible rebound from this support level to buy the impulsive wave (c) towards 115.76 or even higher. Any clear break below 113.20 wil More
16 February	A break above the falling channel	Spike to the lowerside but still above 1.2414	US Dollar in a corrective mode
15 February	Bearish pin on the daily chart	Bearish engulfing candle but still above 1.2467	Bullish engulfing candle above the previous day's highest high 114.18
14 February	Euro Retracing but still bearish	As long as the pair remains above 1.2465, expect a possible bullish price movements towads 1.2725	Bears looking to restest 112.55
13 February	Flat momentarily	We're still holding onto a bullish bias sentiment	Wait to rebuy the green bar

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Elliott waves analysis

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