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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

18 - 22 May	weekly forecast 18 - 22 May Wait for a correction in Gold Gold Wave Analysis Wave Analysis Last week, the Impulsive wave (iii) continued to the upper side and even went above the level 1756.70, our previous week's target, we are waiting for a sign that the impulsive wave (iii) is ended so that we sell for short term the corrective wave (iv) towar More
2020	EURUSD	GBPUSD	USDJPY
22 May	Sell a break below 1.09024. Wave Analysis After breaking below the supportive trendline late yesterday the price continued to move to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As it is now, we are expecting a possible continuation of the impulsive wave (c) to the lowerside and More	Remain short with an ultimate target around 1.21095. Wave Analysis The British pound continues to rally below the 52 Simple moving average. As long as the price remains below the SMA, I expect nothing but a possible momentum to the lowerside is expected towards 1.21095. The anticipated bearish price rally is the continuation of the impulsive wave (v More	Remain short towards 106.745. Wave Analysis During the previous trading, the US Dollar rallied but as at now, the price is below the level 107.481. Following the break below the supportive trendline, or the converging wedge formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price ral More
21 May	Remain long towards 1.10055.	Remain short with your target around 1.20910.	Remain long towards108.250.
20 May	Remain long towards 1.09918.	Remain short towards 1.20855.	Remain short with your target aroound 107.555.
19 May	Wait for a low risk sell order towards the lower trendline.	Wait	Waiting for a sell towards 105.885.
18 May	Look for sell positions with you stop loss above Friday's highest high.	Remain short with your first target at 1.20410.	Waiting for second sell from the upper trendline.

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Elliott waves analysis

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