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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

12 - 16 December	weekly forecast 12 - 16 December Expect further bearish momentum in Gold & Silver Gold Weekly Review: Wave Analysis: As previously forecasted, The Yellow metal traded massively short and is still showing signs of bears dominance. Although we expect further bearish price movements, we’re waiting for a clear breakout below the immediate diagonal supportive trend line to More
2016	EURUSD	GBPUSD	USDJPY
16 December	Bearish momentum towards 1.0175 Wave Analysis: As expected, Euro traded massively short upon breaking below 1.06458, but is currently retracing to the upper side. We expect the current upward rally to be a mere pullback and should not go beyond 1.06458 from where we'll be looking for low risk sell opportunities. As long as the le More	Wait for a beak below 1.2412 Wave Analysis: Following the break below the lower trend line, the cable headed short but could not go beyond the pivot level 1.2412. Although we expect further movements to the lower side, we'll only be interested in going short upon a clear breakout below 1.2412. Any breach of this level to the More	Bulls still charged Wave Analysis: Following the rebound from the supportive zone, 114.97-114.47, the US dollar rose to the upper side and is still showing signs of momentum to the upper side. The current chart set up and structure shows signs of potential bullish momentum and will likely trade long for the better par More
15 December	Bears gaining control	Bearish engulfing candle on the daily chart	US Dollar keeps strenthenming
14 December	Euro still stalling below 1.06465	The cable weak around 1.27706	US Dollar Strengthening
13 December	Euro fails to sustain a the break below 1.05504	Key resistance around 1.27706	Looking to re-buy usdjpy towards 121.00
12 December	Upperside limited as long as below 1.05858	We're short from 1.2770	Bulls gaining momentum

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Elliott waves analysis

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