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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

01 - 05 March	weekly forecast 01 - 05 March Weekly Review Gold Weekly Review Wave Analysis During the previous week ending 5th of February, Gold rallied to the lower side and even went below the lower trendline. While the price remains below this trendline, we expect a possible surge to the lower side and should breakout below 1682.00 towards 1600.00 More
2021	EURUSD	GBPUSD	USDJPY
05 March	Wait Wave Analysis, During the previous trading day, Euro continues to rally to the lower side and is currently approaching a significant support level of 1.19562. While this price remains intact, we are waiting for a clear rebound from it to pick a possible low-risk buy position. The anticipated bullis More	Expect further momentum to the lower side towards 1.29610. Wave Analysis The British pound continues to the rally to the lower side after reestablishing a resistance level at 1.41472. As it is now, we are seeing a continuation of a corrective wave count and could see the price reach the level 1.34375. If the price breaks and closes below this level, then More	Buy a break above 107.924 towards 109.607. Wave Analysis Just as previously anticipated, the Us Dollar rallied significantly to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is now, the price already hit our first target set at 107.924. We are waiting for a clear breakout above this level t More
04 March	On the sidelines	Wait for a sell from around 38.2% fib level.	We're still buyers towards 107.550.
03 March	Wait	Expect further bullish price correction towards 61.8% fib level;	Look for sell positions towards 61.8% fib level.
02 March	Wait and sell a break below 1.20267 towards 1.1952	Wait	Wait
01 March	Wait for a sell from around 61.8% fib level towards 1.19820.	Look for long term sell positions towards 1.38471.	Sell a rebound from the upper trendline towards 104.00.

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Elliott waves analysis

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