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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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Gold Weekly Review: Weekly Review:   From 17th July 2015, Gold formed an upward tunnel, not going above the resistance trend line and below the support trend line forming the tunnel as shown on the daily chart.   During the previous week, Gold did not disappoint when it moved downwards

2015 EURUSD GBPUSD USDJPY
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Technical View: EUR/USD is currently trading with a slight bullish bias. The pair bounced off from a 1.09162 and is currently trading just below a very significant key resistant level 1.09858. This level requires a big force to cross above otherwise we are short. From the correlational point of vi

Technical View: GBP/USD is currently trading with a bullish bias. The pair bounced off from a very significant key level 1.5244 and is currently trading long. While it is clear we may be headed long, we are waiting for a close above 1.5348 before we can completely go long. In the meantime, we rema

Technical View: USD/JPY is currently trading with a Bullish bias. The pair bounced off from a very significant key level 120.56, and is currently headed long. We expect the upward movement in USD/JPY to continue probably up to above 121.69. Any clear movements above this level will signal further

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