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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

01 - 05
August
weekly
forecast
01 - 05
August

Gold Weekly Reviews Weekly Reviews  During the previous week ending 29th July 2016, Gold markets rebound from our support level 1320, headed long and is still pretty much bullish. We expect further movements to the upper side for wave (c) to close around 1434 or even higher. This commodity is

2016 EURUSD GBPUSD USDJPY
05
August

Wave Analysis EU/USD is currently trading with a slight bullish bias. Yesterday, the pair traded perfectly short as previously forecasted and even hit our first target at 1.1112. The daily candle is still pretty much bearish and may push the price further to the lower side but should not go beyond

Wave Analysis GBP/USD is currently trading with a slight bullish bias. Unfortunately our SL was hit when the price broke below 1.3280 and even went below 1.3145. The current chart setup and structure conveys a bearish sentiment, which means the current upward rally is a mere retracement and should

Wave Analysis USD/JPY is currently trading with a bearish bias. Yesterday, the pair didn't make any significant move but as can be observed, the pair is still below a key pivot level 101.49. There are no changes in our technical outlook, we still expect a quick bearish decline towards 99.03 as long

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August
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