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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

31 July - 04 August	weekly forecast 31 July - 04 August Weekly Review Gold Weekly Review XAUUSD is currently in an impulsive phase. The market is forming the impulsive major wave 'V'. As we can see from the chart above, the market has formed a bull flag, increasing the probability of this pair rising up to the estimated end of major wave 'V', which is at 2142.91. More
2023	EURUSD	GBPUSD	USDJPY
04 August	Hold onto buy orders EURUSD is likely to turn bullish. The price is currently situated within a major zone, specifically a support zone at 1.0917. As evident from the chart, this zone corresponds to our major outer wave 'IV'. We anticipate a bullish movement for EURUSD and expect the market to surge upward. Our first t More	Waiting for buy positions GBPUSD is currently exhibiting a bullish trend. The market is presently situated within a significant zone of support. This zone aligns with our major impulsive wave 'IV'. Anticipating a rise from this major wave 'IV', we project the market to ascend up to 1.3781, which represents the furthest poin More	Holding onto buy positions USDJPY is still in an uptrend and currently experiencing an impulsive phase. As indicated by the chart above, the market is presently shaping the major outer wave 'V', with our target set at 149.25. We anticipate the market's upward trajectory to persist, aiming for the 149.25 level. This zone is w More
03 August	We're long for now	We're short for a short time	We're short
02 August	Wait	Waiting to buy GBPUSD	We're long for now
01 August	Wait	We're on the sidelines	We're buyers for now
31 July	Wait	We're short for now	Wait

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Elliott waves analysis

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