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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.

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24 - 28
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weekly
forecast
24 - 28
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Gold Weekly Review Wave Analysis:   During the previous week, Gold markets moved slightly to the upper side but could not close above the resistance line 1294.07. We're waiting for a clear break above this resistance line to confirm a continuation of the impulsive wave (c) towards 1396.

2017 EURUSD GBPUSD USDJPY
28
Abril

Wave Analysis: After gaping above the daily resistance line 1.08641, the pair retraced back to this line but is currently finding it hard to close below it. We're waiting for a clear rebound signal from this key level to long the motive wave (v) towards 1.1111 and could break higher but should not

Wave Analysis: Following the end of the corrective wave (iv) around the lower trend line, the impulsive wave (iii) took to the upper side and even broke above the short term resistance level 1.2890. During this intraday, we expect to continue to the upper side, that the current bearish wave count i

Wave Analysis: The corrective wave (b) continues to rally to the upper side but is yet to hit perfectly our sell zone 111.94-111.693. We're waiting for a clear rally towards this zone to short USDJPY at very low risk, as at the moment, we're not short neither are we long, but we're waiting patientl

27
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26
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25
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24
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