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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

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.

03 - 07
August
weekly
forecast
03 - 07
August

Gold Weekly Review  Wave Analysis During the previous week, Gold markets rallied massively to the upper side and even established a new high of 1984.52. Following the break above the all time high. 1920.20, we expect nothing but a possible momentum to the upper side, As it is now, we are lo

2020 EURUSD GBPUSD USDJPY
05
August

Wave Analysis Last week, EUR continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts, while the price is contained above the alligator indicator, we expect nothing but a possible momentum to the upper side, this is the continuation of the impulsive w

Wave Analysis After breaking above the upper trend line, the British pound continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. While the price is contained above this trend line, we expect nothing but a possible momentum to the upper side, the an

Wave Analysis Yesterday, USDJPY continued to the lower side and is still pretty much bearish both on the daily and on the weekly. While the price is held below 106.104, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impul

04
August
03
August
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