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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
January

The price indeed refrained from declining further and attempted an upward move. A retest followed, but not of the level marked by the red horizontal line, rather at the lower boundary of the channel within which the pair traded for some time. It seemed like everything was set for a downward move t

The previous trading day for the considered pair turned out to be quite dull. Attempts to influence the price were made by both buyers and sellers, but the actual values remained largely the same. Today, it is believed that we might finally see some movement. Currently, a decline is anticipated, d

As anticipated, the price was unable to continue its upward movement. However, there is no significant corrective pullback observed either. The correction, likely guided by the alternation principle, has begun forming a shallow correction, which is presumed to be the fourth wave in the ascending i

18
January
17
January
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January
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January
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