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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

26 - 30 October	weekly forecast 26 - 30 October Sell Gold Alongside Silver Gold Weekly Review Wave Analysis As at the time of writing this analysis, Gold is below a significant zone 1911.82-1926.17. This is a daily resistance zone and while the price is held below it, we are looking for long term sell positions with an idea target at 1843.05 and the next target More
2020	EURUSD	GBPUSD	USDJPY
30 October	Resell EURUSD from 1.17063 with your target at 1.16200. Wave Analysis During the previous trading day, Euro broke below 1.17063. While we continue to see sustenance below this level, we are expecting further correction towards 1.16200 and could breakout much lower. A break below this level will push the price much lower. On this chart, only sell positi More	Conservative traders should wait and sell a break below 1.28920 with their target at 1.27188. Wave Analysis The British pound successfully broke below the supportive trendline. While the price remains below this trendline, we are looking at the level 1.28920 as a possible turn around point. And in case the price breaks and closes below this level, then further momentum much lower is expect More	Wait for a buy signal towards the upper trendline. Wave Analysis The US Dollar continues to remains above the lower trendline. As long as the price is not able to clearly breakout below the supportive trendline, we are on the sidelines, we are expecting a possible a clear buy signal from this level to pick a low risk buy position with our target s More
29 October	Remain short with your target at 1.17063.	Buy the Bruitish pound towards 1.31670.	Look for low risk buy positions now with your target at 104.865.
28 October	Wait	Remain short towards 1.29710.	Wait
27 October	Look for low risk buy positions towards 1.19660.	We are short with our target at 1.29200.	Look for low risk sell positions with your target at 103.530.
26 October	Keep looking for long term buy positions towards 1.19660.	Remain short towards the lower trendline.	Remain short towards the lower trendline.

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Elliott waves analysis

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