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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

17 - 21 July	weekly forecast 17 - 21 July Weekly Review SPX500 Weekly Review SP500 has exhibited a strong bullish trend in recent weeks, and the market has successfully completed the formation of an impulsive V major wave pattern. Presently, the market is situated at major impulsive wave "V" at 4523.5. Notably, the market has formed an ascending chann More
2023	EURUSD	GBPUSD	USDJPY
21 July	We're bearish EURUSD continues its downward movement, aligning with our previous analysis from 7/20/2023. The market remains within the impulsive phase and is currently forming the impulsive major wave "IV". Our projected target for this downward move is at 1.1085, which we have identified as our major More	We're short GBPUSD remains highly bearish, displaying a strong downward impulsive movement. The market remains within the corrective phase, adhering to the ABC corrective pattern. Currently, the market is forming the minor wave "a", and our target for this corrective move is at 1.2526. If you have en More	We're waiting on the sidelines USDJPY remains in a corrective phase following the ABC corrective pattern, with the market currently located at the level of minor corrective wave "b" at 140.44. Our analysis indicates the potential formation of a bearish reversal pattern, possibly a double top, which could lead to a subs More
20 July	We're short	We're short for now	We're short
19 July	Sell EURO	We're short	We're sellers for now
18 July	We're short for now	We're short	We're short
17 July	We're waiting for a bearish correction	We're buyers for now	Wait

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Elliott waves analysis

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