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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
16
May

The situation continues to develop within the previously considered wave scenario. The euro is steadily rising, likely forming an extending wave 3 of the ascending impulse. However, a slight pause is currently anticipated, so it is recommended to close some of the previously opened positions. Furt

The situation with this pair continues to unfold within the previously considered wave scenario. The pound has risen confidently and set a new local high, suggesting the formation of wave 3 of the ascending impulse. Currently, this wave appears incomplete, indicating further potential for upward m

The anticipated resumption of the downward movement has begun to materialize. The price has started moving downwards, likely initiating the formation of the next wave of a nascent downward impulse. After a minor correction, we can expect a prolonged impulsive decline. Additional sell positions sho

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