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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 February	weekly forecast 13 - 17 February Weekly Review Gold Weekly Review XAUUSD has been on an uptrend since last week. The market has completed forming the 5 major waves and as we can see on the chart the market is currently moving in the form of the corrective 3 wave pattern. The market moved impulsively from major wave 5,(1957.30), to minor More
2023	EURUSD	GBPUSD	USDJPY
17 February	We're short EURUSD is in a corrective phase the market is moving in the form of a corrective 3-wave pattern the market has formed an expanding wedge from minor corrective wave (a),1.0667, to minor corrective wave (b),1.0788. Again, the market has formed a double bottom at a major zone 1.0663, this has increase More	We're short GBPUSD has been bearish for the last few days. Currently, the market is in an "ABC" corrective phase we can see on the chart above, the market has formed an expanding wedge from minor corrective wave (a),1.0667, to minor corrective wave (b),1.0788. The price has already broken below the lower trend More	We're buyers USDJPY is in a corrective phase, and the market is moving in form of a corrective 3-wave pattern. This pair has completed forming a full motive wave that is the 5 waves structure, the market also formed a descending channel from major impulsive wave (I),138.43, to major impulsive wave V,127.41. A d More
16 February	We're short	We're sellers	We're buyers
15 February	We're short	We're short	We're Long
14 February	We're short	We're sellers	We're long
13 February	We're short	We're short	We're long

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Elliott waves analysis

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