Picture of the author

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.


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.


Wave Analysis: Euro is still struggling within a range. As long as the price remains within the previous day's highest high and lowest low. We are on the sidelines, we are basically waiting for a clear break below the previous week's lowest low to continue short with the last impulsive wave and may

Wave Analysis: The British pound is still straggling a few points above the lower trendline. While the price is held above this line, I expect nothing but a possible rebound from it to push the price to the upperside. As it is now, we are looking forward to a possible long term buy position toward

Wave Analysis: During the previous trading day, the US Dollar rallied to the lowerside and is still showing signs of continuing much lower. As it is now, we are looking forward to a possible rally to the lowerside and may see price head straight towards 110.90 and could continue much lower. On this

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
We will be pleased to answer any questions you may have


Get bonus