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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

2024	EURUSD	GBPUSD	USDJPY
11 October	EUR/USD. Euro tries to fix the situation. The option of a protracted downward movement, apparently, did not suit buyers. After another update of the minimum, the price rose sharply, showing intentions to try to start growing. The attempt may well be successful. Then the downward movement that has formed can be considered as a formed downw More	GBP/USD. Short-term reversal. The situation on the considered trading pair developed within the framework of the considered scenario during the past day. The price, under pressure from sales, fell deeper and updated the local minimum. Thus, the development of an impulse on a smaller price timeframe has probably been completed. More	USD/JPY. A downward impulsive movement is expected. The price, as expected, tried to continue growing, but as soon as the local maximum was updated, sellers activated again, stopping the movement and pushing the price away from this extremum. But the rebound looks insignificant. More likely, this is just the beginning, and soon we will see a more i More
10 October	EUR/USD. The price will continue to fall.	GBP/USD. A corrective rebound is brewing.	USD/JPY. Expectations of a price decline remain.
09 October	EUR/USD. The price is choosing the direction of further movement.	GBP/USD. The possibility of a sharp corrective uptrend remains.	USD/JPY. The likelihood of an impulsive decline in price remains high.
08 October	EUR/USD. Expectations of a corrective uptrend remain.	GBP/USD. Expectations of a corrective uptrend in the pair remain.	USD/JPY. Possible start of a strong impulsive decline.
07 October	EUR/USD. A corrective uptrend in price is expected.	GBP/USD. The pair is growing within the forming correction.	USD/JPY. The corrective uptrend is completed.

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Elliott waves analysis

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