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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

30 October - 03 November	weekly forecast 30 October - 03 November Weekly Review Gold Weekly Review XAUUSD is presently within a bullish impulsive phase, with the price forming the major outer impulsive wave 'V'. Our target for this wave lies within the resistance zone of 2039.14. The chart indicates a break above the major outer wave 'III', signaling a probable further rise More
2023	EURUSD	GBPUSD	USDJPY
03 November	Temporarily in a buy EURUSD has been exhibiting strong upward momentum since (11/2/2023). It's evident that this pair is still undergoing a corrective phase (ABC corrective pattern). The price has already surpassed the resistance zone at 1.0632. Our anticipation is for the price to ascend to 1.0730, which is the target More	We're short for now GBPUSD is currently experiencing a bearish impulsive phase, with the price nearing a resistance zone at 1.2263. Our expectation is for the price to face rejection at this zone, followed by a subsequent downward impulsive movement targeting the support zone at 1.1995. This level represents our targe More	We're short for now USDJPY is dropping nicely, just as we predicted in our previous analysis (11/2/2023). We observe that the price is currently in an ABC corrective phase following the bullish impulsive phase, which concluded at the resistance zone of 151.70. We anticipate the price to drop, reaching at least the sup More
02 November	Eurusd is picking a bullish momentum	We're short for now	We're short for now
01 November	We're buyers for now	We're short for now	we're buyers for now
31 October	We're buyers for now	We're short for now	We're long for now
30 October	We're long for now	We're short for now	We're looking for long positions

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Elliott waves analysis

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