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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

2023	EURUSD	GBPUSD	USDJPY
22 December	EUR/USD. The market introduces new corrections. The situation with the analyzed pair continues to remain somewhat unclear. On one hand, an ascending impulse has already formed, but on the other hand, the price keeps pushing higher, constantly encountering fierce resistance from sellers. As a result, the progress becomes challenging, consisting More	GBP/USD. A potential initial diagonal triangle may be forming. The price is reluctant to decrease easily. There are active fluctuations within the descending channel. If viewed from the perspective of classical technical analysis, a flag is forming, indicating that the price will sharply rise upon breaking the upper boundary of the designated channel. However More	USD/JPY. The development of the third descending impulse wave continues. The situation with the analyzed pair is unfolding within the framework of the previously proposed wave scenario. The price is gradually decreasing within the presumed wave (iii). Currently, it is approaching the lows from which the price has rebounded twice. Most likely, the price will react to th More
21 December	EUR/USD. The price may initiate an impulsive decline.	GBP/USD. A significant decline seems imminent.	USD/JPY. Onset of a decline in the third wave.
19 December	EUR/USD. Correction continues its development.	GBP/USD. The price remains within a corrective structure.	USD/JPY. The corrective rise in the second wave is expected to continue.
18 December	EUR/USD. The situation has sharply changed again.	GBP/USD. The previously considered scenario remains in force for now.	USD/JPY. The probability of a corrective rise remains high.

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Elliott waves analysis

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