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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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weekly
forecast
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Gold weekly Review: Weekly Review:   During the previous trading week, gold markets traded long and even ended up breaking the key resistive level $1100. From the current chart structure and setups, the demand for gold is still by far much stronger than its supply, thus, we believe that

2016 EURUSD GBPUSD USDJPY
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Wave Analysis: EUR/USD is currently trading along a very significant daily resistant 1.1208. Unless the price close above 1.123, we will have remain on the sidelines. A close below 1.1164 would mean we are headed short but with our target at 1.1070. Euro should be traded alongside USD/JPY, these

Wave Analysis: GBP/USD is currently trading with a slight bullish bias. During the previous trading day, Pound traded long and even hit our daily resistant 1.4659 but could not close above it. We are waiting for minor pullbacks towards 1.4525 for us to continue long, with our ultimate target at 1

Wave Analysis: USD/JPY is currently trading with a bearish bias. During the previous trading day, usd/jpy traded perfectly short and even closed below 117.17, following this downward movement, we are very reluctant to execute buy positions, instead, we will remain short with our target at 115.9.

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