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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

31 July - 04 August	weekly forecast 31 July - 04 August Gold Weekly review Gold Weekly Review Wave Analysis: Earlier this month, Gold market fell to the lower side but failed to break below the monthly support level 1214.79, instead the price rebounded from this level and and is currently in an upward rally. We expect the level 1214.79 to have marked the end of the cor More
2017	EURUSD	GBPUSD	USDJPY
04 August	Expect a possible rise with an ideal target at 1.1980 Wave Analysis During the previous trading day, the impulsive wave (v) extended very few pips to the upper side but is still showing possible momentum to the upper side. During this intraday, we expect a possible extension of this impulsive wave count to the upper side but should not go beyond 1.198 More	Massive corrections but should not go beyond 1.3025 Wave Analysis During the previous trading day, the cable opened at 1.3223, went as high as 1.3267 and as low as 1.3111 but ended up closing at 1.3137, several pips below its opening price. The previous day's candle is perfect engulfing candle against the prevailing up trend. We expect this drop in More	Expect a possible bearish price rally towards 108.40 Wave Analysis During the previous trading day, the impulsive wave (5) extended lower as previously forecasted and is still bearish. We expect a possible bearish extension of this impulsive wave, especially after breaking below 109.37. if this level is broken, the US dollar could drop further with n More
03 August	We expect a possible rebound from 1.19688-1.17872	Bullish but momentum diminishing	Expect further bullish corrections
02 August	EURUSD possibly overbought	Bulls weakening	US Dollar Possibly Oversold?
01 August	Bulls taking the lead	Bulls control	We're short with a target at 108.403
31 July	EURUSD still bullish	We're long with a target at 1.35	Still Short

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Elliott waves analysis

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