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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

09 - 13 November	weekly forecast 09 - 13 November Waiting to buy gold Gold Weekly Review Wave Analysis During the previous week on Thursday, Gold rallied strictly to the upperside and is still above 1929.89. As long as the price remains above this zone, we are looking for long term buy position expecting price to move much higher towards 1972.9 More
2020	EURUSD	GBPUSD	USDJPY
13 November	Wait Wave Analysis Euro continues to remain within the range 1.19044-1.16184. While the price is contained within this range, we are only trading reversals, Yesterday, we were eyeing a possible rally towards the lower trendline, instead the price rallied to the upperside and may heading back towards 1.1 More	Remain short Wave Analysis The close of the previous trading day, saw Euro close on the sellers side. On this chart, we are looking for long term sell positions. If you are looking at this chart, keep looking for long term sell positions. The anticipated bearish price rally is the continuation of an impulsive w More	Remain short towards 104.285. Wave Analysis Few days ago, the US Dollar bounced off nicely from the upper trendline and is currently heading to the lowerside as long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the unfolding of More
12 November	Remain short towards 1.16184.	Wait	Look for sell positions towards the lower trendline.
11 November	Remain short towards the lower trendline.	Remain long towards 1.35	Wait
10 November	Bearish engulfing candle on the daily chart	Buyers are in control	Watch for a possible rejection from the upper trendline.
09 November	A key resistance zone is seen around 1.19627-1.19354	Wait for a possible buy from the zone 1.31186-1.31134	Look for low risk sell position with an ultimate target set around 102.227.

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Elliott waves analysis

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