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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

31 August - 04
September
weekly
forecast
31 August - 04
September

USD/JPY weekly Review Technical View:   During the previous week, USD/JPY traded with a Bullish bias after reaching the lows of 116.217, the pair traded with higher lows and crossed through three fib levels 23.6%, 38.2%, 50.0% and is is currently trading around the 61.8% fib level. a

2015 EURUSD GBPUSD USDJPY
04
September

Technical View: EUR/USD is currently trading with a Bullish Bias. The pair traveled to a low of 1.1088 before drifting upwards. It is anticipated that the current wave will continue to rally upwards but only up to the key level 1.1151, any movements above the key level 1.1182 will signal further mo

Technical View: GBP/USD is currently trading with a bearish Bias. The pair closed below our key level 1.5330 and is currently trading below it. It is anticipated that as long as the pair trades below this level, short positions are recommended but only up to the key level 1.5216. However, the pair

Technical View: USD/JPY is currently trading with a bearish Bias. The pair bounced off from the 50.0% fib level and is currently trading below the 61.8% fib level, as long as the pair trades below this fib level, short positions are recommended but with the first stop at 118.28, and the next stop

03
September
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