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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.

Ondas de Elliott para análise da correlação de Forex

Support and resistance system should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.

How I draw strong support and Resistance

Before I call a level strong, the same level must met the following conditions.

  1. Must have been used as a support before.
  2. Must have been used as a resistance before.
  3. There must be a big candle that broke through it at one point in the past!

Again, when drawing my support and resistance levels, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.

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22 - 26
Agosto
weekly
forecast
22 - 26
Agosto

Gold weekly review Weekly review During the previous trading week ending 19th August 2016, gold markets retraced to the upper side but ended up closing a few pips above the previous week's opening price. During this week, gold could possibly be headed to the upper side but should not go beyon

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Agosto

Wave Analysis EUR/USD is currently trading with a bullish bias. Yesterday, the pair retraced to the upper side and ended up breaking above 1.1276, although we anticipate further movements to the upper side, we cannot rule out the possibility of a breakout below 1.1267. If the latter is the case, th

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Wave Analysis USD/JPY is currently trading with a declining upward momentum. This pair continues to trade within the rising triangular formation but with a declining upward momentum. We are waiting for a clear breakout below the trend line forming hypotenuse of the triangle to go short. A clear bre

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Agosto
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Agosto
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