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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

16 - 20
November
weekly
forecast
16 - 20
November

Gold Weekly Review Weekly Review:   For the past three weeks Gold has traded short following a bounce from a the weekly resistant level 117735. Following the previous week's downward movements, we are very reluctant to go long, however, the size of the previous week's red candle indicate th

2015 EURUSD GBPUSD USDJPY
20
November

Wave analysis: EURUSD is currently trading with a bullish bias. Assuming the level 1.06196 to be the end of the 5 wave cycle, we expect the current upward rally to mark the beginning of a corrective 3 wave cycle. We are waiting for a minor corrective move back to the currently crossed resistive r

Technical Analysis: GBPUSD is currently trading with a slight bullish bias. The pair went long as previously forecasted but could not close above 1.53337, instead, it rallied downwards and ended up closing below another very significant support level 1.5306. We are still waiting for the intraday

Technical View: USDJPY is currently trading with a bearish bias. Since the price is already trading below the lower green trend line forming the upward channel, 123.75 seems to have marked the end of the 5 wave cycle. Meaning the current downward movement is a corrective move to form a 3 wave cyc

19
November
18
November
17
November
16
November
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