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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
29 November	EUR/USD. The initiative remains on the side of the buyers Buyers decided not to rush things, choosing a more calm character for their upward movement. The local maximum was not updated during the last trading day, and a smooth corrective decline continued. However, today it is expected that activity from the euro will increase, leading to the development More	GBP/USD. Further upward momentum is expected. During the last trading day, there were no significant changes in the previously considered wave pattern. Control over the current situation remained with buyers. However, the price has not yet managed to rise further. Apparently, the last trading day was spent on developing an internal correction More	USD/JPY. Price takes a corrective pause. After the breakdown of the upward structure, representing the breakdown of the minimum of the second wave in the final diagonal triangle, the downward movement immediately stopped abruptly. Presumably, a downward impulse formed, which is the first wave in the impulse of a larger time frame. Then, More
28 November	EUR/USD. The euro is aiming for further strengthening of its position.	GBP/USD. The price is ready to continue rising.	USD/JPY. The price continues to decline.
27 November	EUR/USD. Buyers are preparing an impulse with elongation.	GBP/USD. The price is preparing for a strong impulsive growth.	USD/JPY. The price will continue to move down.
26 November	EUR/USD. The beginning of impulsive growth.	GBP/USD. The development of upward impulsive growth is expected.	USD/JPY. The price has begun to develop a downward impulse.
25 November	EUR/USD. Price is preparing for a reversal and impulsive growth.	GBP/USD. Buyers are seizing the initiative.	USD/JPY. The price may begin impulsive decline.

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Elliott waves analysis

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