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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

13 - 17 November	weekly forecast 13 - 17 November Weekly Review BTCUSD Weekly Review On this chart, the Bitcoin is within an ascending channel formation, Basically, we are waiting for a rebound from the lower trendline to pick a long term buy position towards the upper trendline, if the price breaks and closes above this upper trendline, then this will More
2023	EURUSD	GBPUSD	USDJPY
17 November	We're looking for sell positions for now EURUSD is currently in an impulsive phase, with the price forming the impulsive major wave 'V.' Although the price is presently dropping, it appears to be a pullback triggered by the rejection at the resistance zone of 1.0881. Furthermore, the double rejection from the same zone, 1.0881, resulting More	We're short for now On GBPUSD, the pair is currently in an impulsive phase, forming the outer major impulsive wave 'V.' Despite a slight pullback to the upside (1.2376-1.2456), the overall trend remains bearish. As observed in the chart above, the price is descending from major outer wave 'v,' and we anticipate it to More	We're sellers for now USDJPY has been bearish for the majority of yesterday, specifically on November 15, 2023. This trend is more evident in the lower timeframe, particularly the 4-hour timeframe. The pair is currently in a corrective phase, with the price forming the minor wave 'a,' and our target for this minor wave More
16 November	We're waiting for a bearish correction to pick a low risk buy position	We're looking for low risk sell positions towards the lower trendline.	We're sellers for now
15 November	Look for long positions for now	We're short for now	We're sellers
14 November	We're waiting for a buy from 1.06295	We're buyers for now	wait
13 November	Buy a break above 1.06837 towards 1.09760.	We're short for now	We're buyers for now

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Elliott waves analysis

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