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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.


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: This pair has been rallying towards the lower trendline in a downtrend.Recently the price rebounded from the impulsive wave cycle three towards the upper side at the corrective wave cycle four.As at now, the price is on the upper trendline ,I expect momentum towards the lower trendl

Wave Analysis: During the previous trading days,the Great British Pound rallied towards the upper side from the lower trendline at the corrective wave cycle four, towards the upper trendline in continuation of the impulsive wave cycle five.Right now, the price is rallying around the upper trendlin

Wave Analysis: Previously,the price rebounded from the impulsive wave cycle three towards the upper side at the corrective wave cycle four.Right now the price is on the upper trendline,I expect a further bearish momemtum towards 125.85 or even much lower.On the flipside,should the price break abov

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