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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

10 - 14 May	weekly forecast 10 - 14 May Weekly Review Gold Weekly Review Wave Analysis During the previous week ending 7th of May, Gold rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the 50.0% fib level, we expect nothing but a possible momentum to the u More
2021	EURUSD	GBPUSD	USDJPY
14 May	On the sidelines Wave Analysis During the previous trading day. nothing much happened on euro, we saw slight pullback to the upperside but we're still bearish. As it is now, we are looking for long term sell positions towards the lower trendline. If the price can break and close below the lower trendline, then furt More	We're still sellers towards 1.39768 Wave Analysis During the past trading day, the British pound pulled back to the upperside but is still below the zone 1.41119 and should not breakout any higher. If you are looking at this chart now, expect a possible rebound from 1.41119 to pick a possible long term sell position with an ultimate More	We're waiting for long term buy positions towards 110.00. Wave Analysis After the breakl above the upper trendline, we're yet to see a significant move to the upperside. As long as the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsuve More
13 May	Wait	Remain short towards 1.39769.	Look for long positions towards 111.721.
12 May	We're upwards towards 1.24040 and may breakout much higher	Look for long term buy positions towards 1.41980	Buy a break above the upper trendline towards 112.248
11 May	Expect sellers to push price much lower towards 1.2006	Look for sell positions towards the lower trendline.	Keep looking for long term sell positions expecting the price to break below 107.350 or even lower.
10 May	As long as the price remains above the level 1.21500, we are looking for long term buy positions	Sell a rebound from 1.49967 towards 1.36722.	Look for long term sell positions towards 107.775

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Elliott waves analysis

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