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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

21 - 25 August	weekly forecast 21 - 25 August Weekly Review The S&P 500 is currently in a corrective phase. As evident from the chart above, the market is presently at minor wave 'a' at 4370.4. We anticipate a price decline in the form of minor corrective wave 'b,' indicating a short-term correction down to 4348.0. You might consider initiating a short po More
2023	EURUSD	GBPUSD	USDJPY
25 August	We're waiting for a long position. EURUSD has the market completed forming the Impulsive 'V' wave pattern. The price is currently at a support zone of 1.0800. We expect the market to be bullish and anticipate it moving to the upside in the form of a corrective 'ABC' pattern, with our target at 1.1042. This is where we expect the co More	We're short for now We remain strongly bearish as the price continues to decline steadily. It is currently in the process of forming the impulsive 'V' wave. Our expectation is for the price to drop to as low as 1.2480. Please note that this zone serves as our target for the major impulsive 'V' wave. Entering a trade a More	We're long for now USDJPY continues to maintain its bullish momentum, as it has in the previous periods. The market is currently in an impulsive phase and is in the process of forming the major outer wave 'V'. Our target for this impulsive wave is set at 148.34. You may contemplate entering a long position once the m More
24 August	wait	Sell GBPUSD	We're long for now
23 August	We're long from 1.0830 towards the upper trendline.	We're sellers for now	We're long for now
22 August	We're short for a short time.	We're short for now	We're buyers for now
21 August	We're short for now	We're short	Buy USDJPY now

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Elliott waves analysis

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