Economic Calendar

Looking at the calendar, there are many events lined up this week, but the real impact will likely come on Thursday, with interest rate decisions from Europe and inflation data from the United States.

📌 Don’t expect the ECB to surprise us — a rate change is unlikely. The real focus should be on the Press Conference at 13:45 GMT.

EURUSD Elliott Wave Forecast

For almost a month now, EURUSD has failed to generate any meaningful momentum, stuck between 1.1730 and 1.1600. On Friday, we saw a push toward 1.1750, but the pair gave up later in the session.

From the larger perspective, the trend remains bullish, and we should expect another leg higher. From the Elliott Wave view, the move since April 21 looks like a consolidation in wave [4] (orange). This triangle structure should be completing soon, and while we remain above the 1.1400 region, another push higher toward

Alternate Count:
As a backup, the triangle in wave [4] (orange) could still be incomplete, meaning more sideways action before the final push higher.

GBPUSD Elliott Wave Forecast

GBPUSD has shown decent momentum over the past 30 days and deserves our attention. The trend is bullish across all timeframes, with a flag formation supporting this view.

From a wave perspective, the bullish move since August 01 appears to be the final wave [5] (orange). Since we are counting wave c (green) as an ending diagonal, we only expect three legs in wave [5] (orange).

As long as cable remains above last week’s low (1.3334), we look for more bullish momentum toward 1.3800. If this count is correct, wave (c) (blue) should unfold in five sub-waves, which could provide trading opportunities.

USDJPY Elliott Wave Forecast

USDJPY has been choppy since April, with correction after correction dominating the price action. From an Elliott Wave perspective, the move since September 16 looks like an incomplete triangle of wave b (green).

So far, three legs are complete, and we are currently in the fourth wave [d] (orange). If this plays out, we should expect more choppiness in the coming weeks.

In the short term, I would like to see a continuation of the bearish trend toward the 144.40 level — equal legs of wave (c) (blue) compared to wave (a) (blue). For this to happen quickly, we need a decisive break below 146.00 in the coming days.

Gold Elliott Wave Forecast

Gold was the star of last week, and deservedly so — we saw new all-time highs day after day.

From a technical perspective, the rally is part of wave [5] (orange), which broke out of the triangle and attracted liquidity. Wave [5] should consist of five smaller sub-waves, and so far we can only clearly count three. That suggests more upside is likely ahead.

Comparing wave [5] against wave [4], we’ve already reached the 127.2% inverse extension. The next logical target is the 161.8% inverse extension, just above 3,700.

⚠️ Trading Tip: Wait for pullbacks in wave (4) — buying into all-time highs is not a smart decision.

Nasdaq Elliott Wave Forecast

Nasdaq stalled after hitting new all-time highs in August, but there’s still room for more upside.

On the 4-hour chart, the best fit is a triangle formation explaining this sideways momentum. Two short-term options are in play:

Primary view: We are currently in wave (E), which could push toward 23,300 before a move to new highs around 24,000. Remember, wave (E) (blue) should consist of three sub-waves — confirm that before entering long positions.

Alternate view: The triangle is already complete, and we are in wave [5]. If so, expect fast bullish continuation.

📌 Note: This forecast is based on CFDs. If you trade futures, make sure to adjust for the correct market pricing.

Final Thoughts

The most important thing to remember is to keep your trading simple. Don’t overcomplicate.

And remember — I host free live sessions three times a week. If anything changes with my outlook, you’ll hear it there.

P.S. We’re just a week away from our 100K Challenge — a live 60-day trading journey where we aim to turn $1K into $100K together. Want to join? Check out the details here: [Zero to Hero: 100K Challenge].