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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

2024	EURUSD	GBPUSD	USDJPY
10 May	EUR/USD. The situation has shifted back in favor of the euro. Yesterday's trading day indicated a need for adjustments to the previously considered scenario. The price refuses to move towards the expected levels, suggesting the need for corrections in the analysis. It's possible that the expanding diagonal triangle, which represents wave 1 in the emerging up More	GBP/USD. The price may begin an upward impulse movement. The situation with the GBP/USD pair is unfolding as expected. During the previous trading day, the price sharply plunged, reaching a new local minimum and triggering many buy positions' protective stop losses. Now, the opportunity arises to move in the opposite direction, especially considering th More	USD/JPY. Resumption of downward movement is expected. During the previous trading day, there weren't any significant changes in the USD/JPY pair. The dollar is attempting to hold its ground at current levels, but its strength is diminishing. While a brief pause and a continuation of the uptrend cannot be ruled out, overall, the initiative lies with t More
09 May	EUR/USD. The situation maintains a bearish sentiment.	GBP/USD. The pound is preparing for an impulse rise.	USD/JPY. The price may begin an impulse decline.
08 May	EUR/USD. Growth is canceled.	GBP/USD. The development of the corrective decline is expected to be completed soon.	USD/JPY. The corrective rise is expected to end soon.
07 May	EUR/USD. Impulsive growth expected in the fifth wave.	GBP/USD. Expectations of impulsive price growth remain.	USD/JPY. Correctional growth is developing.
06 May	EUR/USD. Impulsive growth is anticipated in the third wave.	GBP/USD. The price may attempt another upward move.	USD/JPY. Correction development expected.

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Elliott waves analysis

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