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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

17 - 21
July
weekly
forecast
17 - 21
July

SPX500 Weekly Review SP500 has exhibited a strong bullish trend in recent weeks, and the market has successfully completed the formation of an impulsive V major wave pattern. Presently, the market is situated at major impulsive wave "V" at 4523.5. Notably, the market has formed an ascending chann

2023 EURUSD GBPUSD USDJPY
21
July

EURUSD continues its downward movement, aligning with our previous analysis from 7/20/2023. The market remains within the impulsive phase and is currently forming the impulsive major wave "IV". Our projected target for this downward move is at 1.1085, which we have identified as our major

GBPUSD remains highly bearish, displaying a strong downward impulsive movement. The market remains within the corrective phase, adhering to the ABC corrective pattern. Currently, the market is forming the minor wave "a", and our target for this corrective move is at 1.2526. If you have en

USDJPY remains in a corrective phase following the ABC corrective pattern, with the market currently located at the level of minor corrective wave "b" at 140.44. Our analysis indicates the potential formation of a bearish reversal pattern, possibly a double top, which could lead to a subs

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