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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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09 - 13
Maio
weekly
forecast
09 - 13
Maio

Gold weekly Review Weekly Review   During The previous week ending 6th April, Gold markets broke above the upper resistive trend line and is still pretty much bullish. Following this breakout, we are very reluctant to look for short positions, instead, during this week, we will be keen

2016 EURUSD GBPUSD USDJPY
13
Maio

Wave Analysis: EUR/USD is currently trading with a slight bullish bias.Yesterday, the pair traded short for the better parts of the day and even ended up closing within the descending channel. Although we expect further momentum to the lower side, we will only sell upon a clear breakout below the s

Wave Analysis: GBP/USD is currently trading with a slight bullish bias. Yesterday, the pair broke above the channel but ended up within the same channel. As long as the pair trades within this channel, expect a rally to the lower side, a clear breakout above 1.4480 will lead to an acceleration to t

Wave Analysis: USD/JPY is currently trading with a bearish bias. From the hourly chart, double top pattern is in a process of continuation with the resistance level 109.34 being the top . We expect a downward rally towards 108.35, then an upward retracement towards 108.56 to give us a low risk sell

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