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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

19 - 23 December	weekly forecast 19 - 23 December Gold, Silver Oil weekly review . Gold weekly Review: Wave Analysis For the past few weeks, gold markets entered into a bearish consolidation only trading within the descending channel. As long as the yellow metal trades within this channel, we expect further momentum to the lower side. in the meantime, we're waiti More
2016	EURUSD	GBPUSD	USDJPY
23 December	Bulls gaining momentum Wave Analysis: Yesterday around 16:00, Euro spiked violently to the upper side but ended up closing below 1.0444. We were waiting for the corrective wave (b) to rebound from 1.04113 to buy the impulsive wave (c), however, as it appears, the level 1.04270 marked the end of the corrective wave (b) an More	Bears approaching 1.2029 Wave Analysis: As expected, the pair traded massively short during the previous trading day and is still showing signs of potential bears dominance. As long as the pivot level 1.2412 limits any invasion to the upper side, we expect a possible bearish wave count towards 1.2029. A break below this le More	USDJPY still consolidation below 118.03 Wave Analysis: Instead of a correction towards 118.03, the pair entered into a bearish consolidation, only trading within the descending wedge. As long as the pair remains within this wedge, we're only interested in trading reversals, any clear breakout out of this wedge will call for a breakout tr More
22 December	Possible inverted head and shoulder formation	Remain bearish as long as the level 1.24125 limits any invasion to the upper side	USDJPY to restest 118.03
21 December	Euro still vulnerable below 1.0489	GBPUSD Breaking lower towards 1.2029	Only buy above 118.65
20 December	Bearish engulfing candle on the daily chart	A break below the rising channel	Bulls gaining momentum
19 December	Euro preparing to continue short	Expect a possible bullish momentum as long as 1.24125 limits any invasion to the lowerside	US Dollar still charged

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Elliott waves analysis

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