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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

20 - 24 February	weekly forecast 20 - 24 February Sell Silver XAGUSD is currently bearish. The market is in a corrective phase, and the market is moving in for a corrective 3-wave pattern. The market formed a descending channel which is a bullish pattern from 22.126 to 21.151. I expect the market to break above the upper trendline of this channel and buy (sh More
2023	EURUSD	GBPUSD	USDJPY
24 February	We're short EURUSD is in a short-term downtrend. The market is currently in a corrective phase. From minor corrective wave a,(1.0661) to where the market is now, the price has been moving in form of an expanding wedge, currently, the market is at the lower trendline of this expanding wedge since at 10579 there More	We're short GBPUSD is currently in the corrective phase the market is moving in form of a corrective 3-wave pattern. As we can see on the chart above the market has been correcting in the form of an ascending channel after every impulsive move to the downside, the most recent ascending channel this pair formed More	We're waiting for a bearish pullback USDJPY has been bullish since the beginning of this week, as we can see on the chart above, the market is in a corrective phase ( corrective 3-wave pattern). The market formed an ascending channel from 131.59 to 134.96 which is a bearish pattern. The market has already broken below the lower trendl More
23 February	We're sellers	We're short	We're flat for now
22 February	We're short	We're long for now	We're sellers
21 February	We're waiting for a buy	We're waiting for a low risk buy position	We're short
20 February	We're short	We're short	We're short

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Elliott waves analysis

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