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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

2024 EURUSD GBPUSD USDJPY
04
October

As expected, the price, under bearish pressure, fell again, updating the local minimum. But there was no strong movement, minor efforts were required for this operation. Perhaps this way, the development of the downward impulse on the smaller time frame has been completed. Then, in the near future

The situation on the considered pair also suggested the possibility of further decline with an update of the local minimum. The price really dropped, but the movement was quite noticeable, and in the near future, we are unlikely to see any reaction from buyers. It is more likely that the price wil

The situation changed slightly during the past trading day. After a successful attack, buyers stopped, not giving their opponents the opportunity to use this pause. As a result, the course froze at a certain price level. Now, after resting a bit, buyers are likely to start forcing events again, wh

03
October
02
October
01
October
30
September
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