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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
08 December	EUR/USD. The price is starting to rise in a corrective wave. Earlier, there was a hypothesis that the decline would start slowing down, and the price would attempt to rise. And that's exactly what happened. Buyer activity began to increase, leading to a complete halt in the downward movement followed by an upward trend. And apparently, this is just the begi More	GBP/USD. A small corrective rise before further decline. The pound, managing to overcome pressure from the dollar, is attempting to rise. The upward movement may be inspired by the euro, which is currently preparing for growth, albeit corrective. Regarding the considered pair, the potential for upward movement seems insignificant, and it might be better More	USD/JPY. Impulsive decline in the third wave. In the previously suggested analysis, there was an error. The earlier assumed Wave 2 turned out to be higher than the beginning of Wave 1, which is inconsistent. Now, let's consider the corrected version. Perhaps the beginning of the decline represents a converging initial diagonal triangle. It More
07 December	EUR/USD. The price is preparing to rise slightly	GBP/USD. The price continues to prepare for an impulsive decline.	USD/JPY. The development of the initial diagonal triangle is coming to an end.
06 December	EUR/USD. Possible scenario with impulsive decline and a slight corrective rise.	GBP/USD. Possible bearish scenario.	USD/JPY. The price of USD/JPY may initiate a corrective rise.
05 December	EUR/USD. Weekly chart suggests further appreciation of the Euro.	GBP/USD. The weekly chart indicates the development of an extended correction.	USD/JPY. The initiative is shifting to the side of the Japanese currency.
04 December	The Euro will try to grow.	The pound retains good potential for further growth.	The impulsive decline will continue.

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Elliott waves analysis

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