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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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Janeiro

Gold Weekly Review: Weekly Review:   During the previews trading week ending 15th January 2016, gold traded short having been rejected from 1106.69, during this week,  we will have the levels 1046 and 1179 as our key levels for observation. If gold can successfully close above 1096, the

2016 EURUSD GBPUSD USDJPY
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Wave Analysis: EUR/USD is currently trading with a bearish bias. During the previous trading day, wave (5) traded perfectly short as previously forecasted and even close below 1.085. We still expect further downward movements towards 1.0645. Ideally, wave (5) should close below the end of wave (3

Wave Analysis: GBP/USD is currently trading with a bearish bias. During the previous trading day, pound traded short but found a support at 1.41005, went long but could not close above a key resistant level 1.4241. We are waiting for a clear close above 1.4248 to continue long with an ultimate

Wave Analysis: USD/JPY is currently trading with a bullish bias. We expect 115.97 to have marked the end of the five wave cycle, that the current upward movement is a corrective three wave cycle with wave (a) ending at 118.36. We will thus be looking to sell from 118.36 with our targets at 117

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