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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

21 - 25 November	weekly forecast 21 - 25 November Expect further bearish momentum in gold Gold Weekly Review: Wave Analysis: As previously forecasted, the yellow metal barely retraced to the upper side before heading straight to the lower side. This commodity is currently trading with an increasing bearish momentum and will likely head further to the lower side but should More
2016	EURUSD	GBPUSD	USDJPY
25 November	Upperside restricted as long as below 1.05842 Wave Analysis: Yesterday, Euro opened at 1.05525, went as high as 1.5840 and as low as 1.05167 but ended up closing at 1.05526, just a pip above it's opening price. The previous day's candle is a perfect indecision candle below a key level 1.05842. We expect this level to restrict any upward invasi More	Still looking for clear direction Wave Analysis The cable continues to consolidate within the rising channel but is yet to give a clear direction. As long as this pair trades within this channel, we'll only be interested in trading reversals, any clear breakout out of channel will call for breakout trading depending on the directio More	Bulls still dominating Wave Analysis: As anticipated, the US Dollar continues to rise incessantly despite our expectation to slow down in momentum. The current chart set up and structure shows signs of clear bullish dominance, selling this pair or holding onto sell orders is still very risk and could be futile in the lon More
24 November	We're short from 1.05842	Bullish rebound from the lower trendline,	Bulls still in full contol
23 November	Go short below 1.05822	Bearish pullback mode	Bulls still in control
22 November	Euro in a corrective mode	Bullish reversal	Bearish corrections
21 November	Sell Euro alongside AUD/USD and NZD/USD	Expect a possible bearish price movements towards 1.2029	We're long

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Elliott waves analysis

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