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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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2024 EURUSD GBPUSD USDJPY
17
May

The anticipated continuation of growth did not occur. The euro needed a pause, during which the dollar attempted to shift the situation in its favor, resulting in a minor pullback. This decline is likely corrective. Consequently, the price is expected to resume its upward movement soon, completing

The situation with this pair is similar to what is currently observed with EUR/USD. After setting a new local high, the upward movement paused, and the price began to pull back. This minor decline is likely part of an ongoing internal correction. Consequently, the price may start rising again soon

Buyers continue trying to return to the previously established maximum and possibly surpass it. Another strong bearish wave was bought up. However, this appears to be forming a corrective structure, which is not in favor of the buyers. Throughout the day, the price may increase slightly. Then, sel

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