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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.

Elliott waves analysis

2024 EURUSD GBPUSD USDJPY
06
December

Buyers managed to achieve some success. The price rose, but remained within a range that currently looks somewhat uncertain. The thing is, the current situation can be viewed from two perspectives. From one perspective, the development of an initial diagonal triangle is assumed, in which the fifth

It was previously assumed that the correction development would continue and take up time until the end of the current trading week. However, buyers disagreed with this. During the past trading day, they became active and managed to raise the value of the British pound above the previously establi

The situation with the trading pair is developing within the framework of the expected scenario. After a good decline representing a downward impulse, buyers are trying to react to it. They managed to halt the decline and rise slightly. However, this is not enough, and they are unlikely to stop th

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