Introduction to Elliott Wave Theory Elliott Wave Theory explains that markets do not move randomly. Instead, price moves in repeating wave patterns driven by trader psychology. These patterns help traders identify where trends may continue and where reversals are more likely to happen. The main structure of the market follows a 5-wave move in the trend direction and a 3-wave correction against it . Impulse Waves Impulse waves move with the main trend and consist of five wa

Gold rose about 4% over the week, even though it dropped around 1.7% on Friday. The outlook now depends heavily on developments in the Iran conflict, especially after Trump gave Iran 48 hours to make a deal or reopen the Strait of Hormuz. Even though geopolitical risks usually support gold, the recent strength in the US dollar and rising bond yields are limiting upside. Higher oil prices are increasing inflation concerns, which keeps expectations of higher interest rates for

EUR/USD has broken above the rectangle pattern. Today's expectation of a probable 45-day ceasefire of the war in Iran is adding more strength to bulls, as energy seems to be the driving factor for EUR/USD currently. The price is broken above the 1.1550 area. On the upside, the next target is near 1.1628, with further resistance near 1.1675 (200-day SMA). On the downside, 1.1510 remains near-term support, which is also the lower line of the rectangle. A weekly close below this

The March NFP report came in stronger than expected, with 178K jobs added compared to the 65K forecast, and the unemployment rate improved to 4.3%. However, wage growth slowed to 0.2%, which slightly reduces inflation pressure. Overall, the strong jobs data support the view that the Federal Reserve is unlikely to cut interest rates soon, especially with inflation still above target. However, market reaction has been limited despite the positive NFP report, showing there is st

Chart patterns help traders understand what price is likely to do next . They show whether a trend may continue , reverse , or pause before breaking out . Learning these patterns can improve entries, exits, and risk control. Here is a simple guide to the most important chart patterns and how traders use them. 1. Double Top and Double Bottom These are reversal patterns . A double top forms after an uptrend. Price tests a resistance level twice but fails to break higher. When

Markets expect the March NFP report to show about 65K new jobs, 0.3% monthly wage growth, and unemployment at 4.4%.Even so, Middle East tensions and the risk of a continued closure of the Strait of Hormuz are currently the main drivers of markets. Because of this, geopolitical developments may have a bigger impact on the US dollar than the jobs data unless there is a large surprise. With inflation still above the Federal Reserve’s 2% target, markets now see about an 80% chanc

Many traders struggle with one common problem: entering the market too early or too late . The Minesweeper technique is designed to solve this issue by helping traders manage uncertainty and control risk while building positions step by step . Instead of relying on a single entry, this method spreads trades across planned price levels in a structured way. This approach is especially useful during volatile markets or when trading around key support and resistance zones. What I

Outlook for GBP/USD is mixed, with the pound facing pressure from rising energy costs, weaker growth expectations, and uncertainty around how the Bank of England will respond to higher inflation. UK inflation is expected to rise toward 3.5% to 4.0%, mainly due to the energy shock, but slowing growth increases the risk of a stagflation environment. While markets are currently pricing possible rate hikes, the more likely scenario is that the BoE pauses and waits for clearer sig

Expectations that the conflict involving Donald J. Trump and the Strait of Hormuz may ease are supporting the euro. Reduced risk of oil supply disruption and weaker support for continued conflict from major Western countries are improving sentiment toward Europe, which helps EUR/USD move higher. Also, euro area inflation keeps supporting expectations of future ECB tightening; the pair is likely to stay supported and gradually move higher. Technically, the recent bearish move