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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

20 - 24 January	weekly forecast 20 - 24 January Buy Gold Gold weekly Review Wave Analysis Few days ago, there was a decline in momentum but could not go beyond 96.43. According to the Momentum indicator attached, we expect further momentum to the upper side and could break beyond 1604.750. A break above this level will push the price even high More
2020	EURUSD	GBPUSD	USDJPY
24 January	Remain short with an ultimate target around 1.09330. Wave Analysis Just as previously forecasted, euro continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the upper trend line, we expect nothing but a possible momentum to the lower side. As we mentioned during the More	Rebuy the cable from around 1.30169. Wave Analysis Nothing much happened on this pair during the previous trading day. As long as the price is held above the upper trend line, we expect nothing but a possible momentum to the upper side and should break above 1.34930. A break above this level will push the price much higher towards the More	Wait for a low risk sell order from around 109.510. Wave Analysis During the previous trading day, the US Dollar continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the level 109.013, we expect nothing but a possible momentum to the lower side, the anticipated be More
23 January	Remain short with your take profit at 1.09330.	Remain long with your towards 1.34930.	Remain short with your take profit at 108.700.
22 January	Sell Eur towards 1.09330.	Remain long with your take profit at 1.35080.	Sell a break below 109.813.
21 January	Sell Euro towards 1.09330.	Wait for a buy from 1.29869.	Wait
20 January	Remain short towards 1.08640.	Wait for a bounce from 1.29869 to pick a possible buy position.	Wait

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Elliott waves analysis

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