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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

15 - 19 May	weekly forecast 15 - 19 May Weekly Review SPX500 Weekly Review The SP500 is currently in a corrective phase, following the ABC corrective pattern. The market is currently forming the corrective minor wave c. By observing the chart above, it is evident that the market has formed an expanding wedge pattern from minor wave a at 4147.1 to m More
2023	EURUSD	GBPUSD	USDJPY
19 May	We're long EURUSD has completed the formation of the impulsive wave pattern. The market is currently at the level of the major impulsive wave (V) at 1.0761. Over the past few days, the general trend of this pair has been bearish, as evidenced by the chart displaying lower lows and lower highs. Additionally, a More	We're buyers for now GBPUSD has exhibited a bearish trend for the majority of this week. However, there are indications that the trend is shifting, as the market has completed the formation of the bearish impulsive (V) wave pattern. We now anticipate a bullish ABC corrective pattern to follow. The current price is situ More	We're sellers USDJPY is currently in the midst of the major impulsive wave (V), indicating the completion of the impulsive (V) wave pattern. The next phase we anticipate is the formation of a corrective phase known as the ABC corrective pattern. From the beginning of the major/outer impulsive wave (I) at 133.74 More
18 May	We're buyers for now	Buy GBPUSD now	We're short
17 May	We're short	We're short for now	We're short
16 May	Wait	We're short	We're sellers
15 May	We're short	We're short	We're short

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Elliott waves analysis

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