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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 June	weekly forecast 12 - 16 June Weekly Review Silver Weekly Review XAGUSD is indeed displaying a strong bullish trend at the moment, characterized by an impulsive phase. Additionally, it is observed that the market is forming a corrective pattern, specifically an expanding channel, around the 24.247 level. It is important to note that an ex More
2023	EURUSD	GBPUSD	USDJPY
16 June	We're short EURUSD is presently undergoing a bearish corrective phase following the ABC corrective pattern. Additionally, we observe an ascending channel formation on the chart, originating from the major impulsive wave "I" at 1.0776. Ascending channels typically indicate a potential bearish reversal in the ma More	We're long for now GBPUSD has experienced a decisive breakout above the resistance zone at 1.2668, aligning with our previous analysis (6/15/2023). The pair is still in the process of completing the impulsive phase. The bullish breakout above the resistance zone serves as a strong confirmation of the bullish sentimen More	We're sellers USDJPY is currently very bearish. The market is in a corrective phase. The price is currently declining, suggesting a bearish sentiment in the market. Based on this analysis, it is expected that the market will continue to drop, potentially reaching the level of 139.01. This level corresponds to th More
15 June	We're in a range for now	We're buyers for now	We're short
14 June	We're buyers for now	We're short	We're sellers for now
13 June	We're long temporarily	We're sellers for now	We're sellers for now
12 June	We're buyers for now	We're short for now	We're short

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Elliott waves analysis

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