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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

06 - 10 February	weekly forecast 06 - 10 February Weekly Review SPX500 Weekly Review SP500 has been on an uptrend for the last few days. The market moved in form of an impulsive 5-wave pattern from3800.0 which is the beginning of our major wave (I) to 4196.7 which is our major wave V. Normally, after every 5 major waves the market corrects in form of a More
2023	EURUSD	GBPUSD	USDJPY
10 February	We're short EURUSD has been on an uptrend for the last few days. The market is currently moving in form of a corrective 3wave pattern. The price broke out of a major zone/support zone at (1.0786), impulsively and the market has retraced back to this major zone,(1.0786). From (1.0668) to minor corrective wave b More	We're short GBPUSD is on a uptrend. As we can see on the chart above, the market formed an ascending channel from,1.2190 to 1.2405 which is a reversal pattern. Since the market broke out of the lower trendline of this channel the price has been moving impulsively to the downside. Again, the market broke out of More	We're buyers This pair moved in the form of a descending channel from major wave (I),138.43, up to (130.46). The market has already broken out of the upper trendline of this channel impulsively at 130.36. Again at the same level (130.36), there is a major zone/resistance zone. The price has retraced in the form More
09 February	We're short	We're sellers	We're buyers
08 February	Waiting for bullish pullback	We're short	We're long
07 February	We're short	We're sellers	We're buy above 132.51
06 February	We're short	We're short	We're on a short term sell

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Elliott waves analysis

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