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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

14 - 18 December	weekly forecast 14 - 18 December Weekly Review DJI30 Weekly Review Wave Analysis During the previous week ending 11th December, nothing much happened on Dow. The price rallied slightly to the upperside before closing just a few points away from its opening price. On this chart, we expect further momentum to the upperside. The anticipated More
2020	EURUSD	GBPUSD	USDJPY
18 December	Remain long towards the upper trendline. Wave Analysis Euro is currently in a contracting wedge formation. While the price remains within the range not going below the upper trendline and above the upper trendline, we are only interested, we are waiting for a buy from the lower trendline and a sell from the upper trendline. A breakout abo More	Sell a rebound from the upper trendline towads the lower trendline. Wave Analysis During the previous trading day, the British pound continued to the upperside but could not go beyond the upper trendline. On this chart, we are basically waiting for a bounce from the upper trendline should not breakout any higher. As it is now, we expect the current bearish price ra More	Look for low risk sell positions towards 103.200. Wave Analysis Yesterday, the US dollar closed below 103.691 and is still pretty much below this line. As long as the price is held below this level, we expect the current move to the upperside to be a corrective wave count but should not go beyond 103.691. If the price breaks and closes above this More
17 December	Sell a rebound from the upper trendline towards the lower trendline.	We're upwards towards the upper trendline.	Remain short towards 100.00.
16 December	Sell a rebound from 1.21765 towards 1.20585.	Buy a break beyond 1.35360.	Remain short towards the lower trendline.
15 December	Look for long term buy position towards 1.23645.	We're sellers towards 1.26890.	Main a sellers approach on this chart.
14 December	Remain long towards 1.235.	Look for long term sell position towards 1.16320.	Remain short towards 102.580.

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Elliott waves analysis

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