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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

2024	EURUSD	GBPUSD	USDJPY
18 October	EUR/USD. Another opportunity for growth. The price continued to fall, and the wave scenario considered earlier turned out to be incorrect, since in that case, wave 3 would be the shortest. Now the situation looks like wave 3 is also elongating, like wave 1. Then a small correction will begin shortly, during which the euro's exchange rate More	GBP/USD. The beginning of a corrective uptrend has begun. All throughout the past trading day, buyers held a heavy defense and managed to prevent further price declines, and then managed to slightly raise it. Perhaps this is how an appropriate rebound movement will begin, designed to correct the previously occurring impulsive decline. In this case, we wi More	USD/JPY. Expectations of a price decrease remain. Despite expectations of active actions from sellers, the price continued to move within a certain narrow range, updating the local maximum once again. So far, all this uptrend continues to look like part of a correctional structure, namely a double zigzag. For this reason, expectations overall rem More
17 October	EUR/USD. Another opportunity to change the situation.	GBP/USD. Pound will attempt a counterattack.	USD/JPY. The price is preparing for a sharp impulsive decline.
16 October	EUR/USD. The beginning of a corrective uptrend through the update of the current minimum.	GBP/USD. Expectations of the development of a corrective uptrend remain.	USD/JPY. Active impulsive decline is expected.
15 October	EUR/USD. A favorable situation for an uptrend has arisen.	GBP/USD. The price retains a certain potential for a corrective uptrend movement.	USD/JPY. The corrective uptrend is over. The price is ready to fall.
14 October	EUR/USD. The attempt to grow is postponed to the new trading week.	GBP/USD. A corrective rebound is being prepared.	USD/JPY. Expectations of an impulsive decline in the pair remain.

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Elliott waves analysis

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