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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

15 - 19 June	weekly forecast 15 - 19 June Sell Gold Gold Weekly Review Wave Analysis During the previous week, Gold markets rallied steeply to the upper side but could not break above the upper trend line. As long as the corrective three wave cycle fails to break above the upper trend line, we are expecting the bounce from the upper trend l More
2020	EURUSD	GBPUSD	USDJPY
19 June	Remain short towards 1.09600. Wave Analysis During the previous trading day, the corrective three wave cycle continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the previous day's lowest low, we expect nothing but a possible momentum to the More	Remain short towards 1.21700. Wave Analysis During the previous trading week, the impulsive wave (c) continued to the lower side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains below the previous day's lowest low, we expect nothing but a possible momentum to lower side. More	Sell a break below 106.594 towards 105.00. Wave Analysis During the previous trading day, there was a massive correction to the lower side but is currently approaching a support level 106.594. As it is now, we are expecting a possible break below 106.594 to pick a long term sell position with an ultimate target around 105.00. And should th More
18 June	Wait	Wait for a break below 1.25012 to pick a long term sell position.	Remain short towards 105.00.
17 June	Wait and buy a bounce from 1.12337 with your take profit at 1.13901.	Wait for a buy from 1.25013 with your target at 1.26625.	Wait
16 June	Remain long towards 1.154.	Buy a break above the blue alligator line towards 1.28220.	Wait
15 June	Expect further bearish correction towards 1.10963-1.10721.	Remain short towads 1.23340.	Wait.

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Elliott waves analysis

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