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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.

Elliott waves analysis

2024 EURUSD GBPUSD USDJPY
19
March

Buyers' position is worsening further. The price attempted to rise, reaching a new local maximum, which was previously identified as a signal for entering long positions. However, it immediately reversed direction, revisiting the previously established minimum. Additionally, this led to a breach o

For the GBP/USD pair, it seems like nothing significantly important has occurred. The price continued its decline, staying within the bounds of the considered ascending ending diagonal triangle. Presumably, in this pattern, wave 4 is forming. There is still room for maneuver for the price, so in t

The enthusiasm of buyers has slightly decreased. The speed of movement noticeably dropped, but the price remained at the same levels. Sellers urgently need to find some counterarguments in favor of starting a downward movement; otherwise, the situation for them could end quite unfavorably. Buyers

18
March
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