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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.

Ondas de Elliott para análise da correlação de Forex

Support and resistance system should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.

How I draw strong support and Resistance

Before I call a level strong, the same level must met the following conditions.

  1. Must have been used as a support before.
  2. Must have been used as a resistance before.
  3. There must be a big candle that broke through it at one point in the past!

Again, when drawing my support and resistance levels, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.

More

2015 EURUSD GBPUSD USDJPY
21
Agosto

Technical View: EUR/USD is trading with a bullish bias. The pair is likely to trade on the higher ranges as long as it trades above the key resistant level 1.1275. in the meantime we are waiting for a corrective move to around the temporary support 1.1194. In another outlook, should the pair break b

Technical View: GBP/USD is trading with a bearish Bullish Bias.It is expected that the pair with trade on the higher ranges today. As can be seen, the pair perfectly corrected itself and bounced off from the its key level 1.56063. As long as the pair trades above the level 1.5647, long positions are

Technican analysis: USD/JPY is trading with a bearish baas. The pair is likely to trade in the lower ranges as long as it trades below the key level 122.91. We however anticipate a minor corrective rally towards 123.44. In another case, should the price manage to close above the previous upper trend

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Agosto
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