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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

12 - 16 June	weekly forecast 12 - 16 June Brent Still to fall Brent Still to fall Wave Analysis: As previously forecasted, Brent fell to the lower side and will likely fall further. The anticipated bearish price rally is the continuation of both the inner impulsive wave v and the outer wave (c) but should not go beyond 45.51. Any further movements below More
2017	EURUSD	GBPUSD	USDJPY
16 June	We're short towards 0.97732 Wave Analysis: Perfectly as previously forecasted, this pair declined in price following the rebound from the immediate resistive trend line and will likely continue decline. We expect the downward rally that began yesterday to be an onset of the impulsive wave (5) and should not break below the su More	Expect a possible rebound from 1.27735-1.27204 to short this pair Wave Analysis Yesterday, the corrective wave (b) extended a bit higher than expected but is still within our sell zone 1.27735-1.27204. As long as this view protects any invasion to the upper side, we expect a possible rebound from this zone to sell this pair. The anticipated sell position is the c More	Wait and sell this pair around 112.003 Wave Analysis: Despite our expectations to continue short, usdjpy continues to rally upwards and could extend even higher during this intraday. The upward rally that began yesterday is a mere corrective wave move and should not go beyond 112.003 from where we sold this pair during the previous day. More
15 June	Possible sell on the monthly chart	Bearish pin bar on the daily chart	Still short
14 June	Looking for possible buy opportunities on the daily chart	On the sidelines	We're still short with an ideal target at 100.4
13 June	possible corrections on the daily chart	Possible bearish continuation candle on the daily chart	We're short
12 June	Looking for possible short positions	Expect further short positions	Waiting to sell around 111.58

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Elliott waves analysis

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