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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.

Elliott waves analysis

20 - 24
March
weekly
forecast
20 - 24
March

 BUY SPX500 Now SP500 is in a corrective phase, the market is currently very bullish. As we can see on the char above, the market formed a descending wedge that is expanding in nature, from the beginning of major wave (I),4810.6, to the end of major wave (V),3560.6, this is a bullish pattern

2023 EURUSD GBPUSD USDJPY
24
March

EURUSD is dropping nicely just as we had predicted in our previous analysis. The price is currently in a minor zone. The market is in a corrective phase which is ABC's corrective pattern. Since the price has already formed the minor corrective wave a and minor corrective wave be the price is curren

GBPUSD is still very bullish though in the lower timeframe, we can see some bearish pullbacks. The market is in a corrective phase ( ABC corrective pattern). I expect the price to be bullish at least up to 1.2410. The price reaching this zone will mark the end of the corrective phase. You can still

USDJPY is still very bearish. The market is currently in a corrective phase (ABC corrective pattern). Currently, the market is at a major zone /support zone at 130.53. From the chart above, we can clearly see that the market is moving in form of a descending channel which is a bullish reversal patt

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