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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.

Elliott waves analysis

18 - 22
April
weekly
forecast
18 - 22
April

Gold Weekly Review Weekly Review During the previous week, Gold markets broke above the upper thick resistive trend line but ended up closing below it. Following the exhaustion on the weekly chart, expect the price to trade in the lower ranges. During this week, the levels 1214, 1204, and 1188

2016 EURUSD GBPUSD USDJPY
22
April

Wave Analysis: EUR/USD is currently trading with a bearish bias. Yesterday, the pair broke above a key resistance level 1.1329 but ended up closing below it. During this intraday, a key support level is seen at 1.1283, a clear break below this level will push the price to the lower side. Otherwise,

Wave Analysis: GBP/USD is currently trading with a bullish bias. Yesterday, wave (4) failed to reach our target at 1.4290, instead, it ended few pips before hitting the support level 1.4290. The current upward rally is the unfolding of wave (5) with an ideal target 1.4640. A clear breakout above 1.

Wave Analysis: USD/JPY is currently trading with a bullish bias. Yesterday, the pair traded within a tight range not going above 109.78 or below 109.30. During this intraday, if the price closes as is it right now (above 109.95), then we expect an upward rally. However, if the price close below 10

21
April
20
April
19
April
18
April
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