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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
16 February	EUR/USD. The Euro tries to seize the opportunity. Apparently, the scenario I proposed for the development of events appealed to the Euro, and it is making every effort to realize it. During the last trading day, the exchange rate continued to cautiously rise, approaching the level of breaking the downward trend. Buyers didn't spend all their stre More	GBP/USD. Buyers begin to counterattack. Once again, the Pound faced strong pressure and managed to withstand the brink of breaking the local minimum. After this successful defensive action, cautious growth is observed. It is quite possible that this is the beginning of the development of the third impulse wave within the larger wave [v] More	USD/JPY. There is still no clarity in the current situation. The Japanese Yen, following the Euro and the Pound, is trying to seize the moment and change the situation in its favor. However, there is no significant progress yet. The price has only slightly declined, ready to sharply rise at any moment. Something significant could happen during the next day More
15 February	EUR/USD. Another attempt at reversal.	GBP/USD. Expectations for upward movement in wave [v] remain.	USD/JPY. The price continues to ponder its next steps
14 February	EUR/USD. The downward correction seems to be continuing.	GBP/USD. The pound managed to withstand pressure.	USD/JPY. The moment of truth is approaching.
13 February	EUR/USD. Growth through the diagonal triangle.	GBP/USD. Expectations of impulsive growth in the fifth wave remain.	USD/JPY. Completion of the upward correction is expected.
12 February	EUR/USD. Euro strives to take the lead.	GBP/USD. An alternative bullish scenario is likely unfolding.	USD/JPY. The corrective rise may be nearing completion.

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Elliott waves analysis

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