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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.

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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.

2020 EURUSD GBPUSD USDJPY
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September

Wave Analysis Yesterday, nothing much happened on this pair, we expected a possible rally towards 1.17115, however, the price could not breakout any higher. As it is now, we are waiting for a clear breakout below the previous day's highest high to pick a low risk buy position or a breakout below th

Wave Anlysis Yesterday, USDJPY rallied to the upperside but could not breakout above 105.505-105.387. As long as the price remains below this zone we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of a bearish price rally and could

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