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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 June	weekly forecast 01 - 05 June Buy Australian stocks index Australian Stock's Index Wave Analysis During the late last week, ASX declined steeply and even reached the low of 5655.0. However, earlier today, the price gaped to the upper side and is still pretty much bullish on the 4 hours, on this chart, we're expecting a possible break above the pr More
2020	EURUSD	GBPUSD	USDJPY
05 June	Wait for a 23.6 fib level to pick a buy position. Wave Analysis During the previous trading day, the impulsive wave (5) continued to the upper side but is currently approaching a resistance around 1.13710. As long as the price is held below 1.13710, we are flat, we are waiting a breakout above this level to confirm that we are continuing upwards More	Remain long with an ultimate target at 1.29. Wave Analysis After a pullback towards 23.6% fib level, the British pound continued to the upper side but is currently approaching a key resistance level 1.26420. A breakout above the level 1.26420 will be a good sign that we are continuing to the upper side with the impulsive wave (v) to the uppe More	Remain long towards 110.00. Wave Analysis After breaking above the upper trend line, the impulsive wave (v) continued to the upper side and is currently around 109.160. This is not a main level and price is not approaching any key level except 110.00. If the price breaks and closes above 110.00, then we may expect further mo More
04 June	Remain long towads 1.1342.	Expect further bearish correction.	Remain long towards 110.00.
03 June	Remain long towards 1.1345.	Remain long towards 1.2764.	Remain long with your target at 110.00.
02 June	Remain long with an ultimate target around 1.1234.	Remain long with an ultimate target around 1.26.	Buy a break above the upper trendline with your target around 107.895.
01 June	Remain long	Remain long with the impulsive wave (E) with an ultimate target around 1.24880.	Remain short towards 107.155.

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Elliott waves analysis

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