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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

17 - 21 May	weekly forecast 17 - 21 May Weekly Review Gold weekly review Wave Analysis Last week, gold rallied to the upperside and even went above the upper trendlie. This is a break above a flag formation. As it is now, we are looking for long term buy positions expecting the price to break above 2035.00 and may push the price much higher with More
2021	EURUSD	GBPUSD	USDJPY
21 May	Remain long Weekly Analysis Yesterday, euro rallied to the upperside and is still pretty much bullish both on the daily and on weekly charts. While the price remains above the Alligator indicator, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuatio More	Remain long towards 1.42170. Weekly Analysis During the previous trading day, the British pound rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. While the price remains above the Alligator indicator, we expect nothing but a possible momentum to the upperside. The anticipated More	While the price remains below the Alligator indicator, we are looking for sell positions towards 107.730. Weekly Analysis The US Dollar continues to rally below the Alligator indicator and is now showing any signs of breaking above it. While the price remains below this is indicator, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of a More
20 May	Expect a possible rally towards the lower trendline.	Stay on the sidelines temporarily.	We're sellers towards 107.730.
19 May	Still Bullish towards 1.22440.	Still holding onto a buy towards 1.43.	Wait for buy orders.
18 May	Buyers in full control towards 1.22440.	Look for low risk buy positions towards 1.46.	Buy a rebound from around 107.50 towards 114.246.
17 May	Remain long towards 1.22440	Remain long towards 1.46.	As long as the price is above the upper trendline keep looking for long term buy positions towards 118.018

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Elliott waves analysis

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