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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

30 January - 03
February
weekly
forecast
30 January - 03
February

 Gold Weekly Review Wave Analysis: During the previous tradding day, gold rallied to the lowerside and is still showing signs of continuing to the lowerside. As it is right now, on this chart, we are looking at nothing but a possible momentum to the lowerside. The idea on this chart is to k

2023 EURUSD GBPUSD USDJPY
03
February

EURUSD has completed forming the major 5 waves pattern and it's currently correcting to the downside in form of minor corrective 3 waves pattern. The market is currently at minor corrective wave a,1.08842. I expect this pair to reverse from this level 1.08842, up to around 1.09409 which we have we

GBPUSD has been on an uptrend for the better part of this week. The market is currently correcting to the downside in form of a corrective 3 waves pattern. Again this pair formed a reversal pattern (Ascending channel) from 1.21021 to 1.23635. The market broke out of the lower trendline of this cha

USDJPY is currently moving to the downside. The market formed a wedge from major wave I,131.524 to major wave V,130.562. The market broke out the lower trendline of this wedge impulsive up to 128.108, we have marked this point as our minor corrective wave a. I expect the market to reverse from 128.

02
February
01
February
31
January
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January
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