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Elliott waves analysis

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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Elliott waves analysis

16 - 20 November	weekly forecast 16 - 20 November Weekly Review ASX weekly Review Wave Analysis During the previous week, The Australian index rallied intensely to the upperside and is still pretty much above the upper trendline, while the price remains above this trendline, we expect nothing but a possible momentum to the upperside, the anticipated More
2020	EURUSD	GBPUSD	USDJPY
20 November	Wait Wave Analysis We continue to see persistence below the zone 1.19334-1.18875. If you are looking at this chart now, keep looking for long term sell positions. And in case the price breaks and closes above 1.19334, then this would mean we are continuing upwards with the next ideal target set around 1 More	Remain short with an ultimate target at 1.27300. Wave Analysis After a rally to the lowerside during the previous trading day, the British pound continues to move much lower. On this chart, we are looking for long term sell positions. Basically, we are expecting price to continue to the lowerside towards the lower trendline and may likely break b More	Sell a breakout below 103.700 towards 100.00. Wave Analysis During the previous trading, instead of continuing to the lowerside, the us dollar pulled back upwards created a new high but ended up closing below its opening price. To an extend, this pair is bearish. However, we want to first see a breakout below the lower trendline to pick a poss More
19 November	Sell a bounce from 1.19334-1.18875 towards 1.16030.	Wait	Remain short towards 100.00.
18 November	Wait	Remain on the sidelines	Look for long term sell positions.
17 November	Wait	Watch for sell positions along the upper trendline.	Look for low risk sell orders now towards the lower trendline,
16 November	Buy a breakout above 1.19044 towards 1.3564.	Remain long towards 1.32784.	Remain short towards 104.139.

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Elliott waves analysis

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