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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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04 - 08
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weekly
forecast
04 - 08
Abril

 Gold weekly Review: Weekly Review: During the previous trading week, Gold markets broke above the immediate thin trend line but closing below it thus giving us a downward continuation candle. Following the previous week's candle, we expect the price to trade in the lower ranges during this week

2016 EURUSD GBPUSD USDJPY
08
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Wave Analysis: EUR/USD is currently trading with a bearish bias. Yesterday, the pair traded short and even tested the daily support 1.1333 but could not close below it. During this intraday, we expect a close below 1.1333 to mark the continuation of wave (a) towards 1.1282. Although we anticipate m

Wave Analysis: GBP/USD is currently trading with a bearish bias. Yesterday, the pair traded massively short as previously forecasted but could not close below the daily support 1.4054. As long as the pair trades above this level, expect the price to trade on the higher ranges with targets at 1.4193

Wave Analysis: USD/JPY is currently trading with a bearish bias. Yesterday, the pair traded short and ended up being supported at the level 107.87. Following the massive downward rally witnessed during the previous intraday, we expect the current upward movement to be a mere retracement towards 109

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