EURUSD Elliott Wave Analysis and Forecast for May 20, 2022–May 27, 2022
Main scenario: consider short positions below 1.0765 after the correction is complete, with a target of 1.0000–0.9480.
Alternative scenario: The pair will continue to rise to levels of 1.0937 – 1.1184 if it breaks out and consolidates above the level of 1.0765.
Analysis: A bearish correction appears to be emerging in the weekly chart as a greater degree B wave, which is forming as a triple zigzag (W)-(X)-(Y)-(X)-(X)-(X)-(X)-(X)-(X)-(X)- (Z). On the daily chart, wave (Z) of B appears to be unfolding, with wave C of (Z) developing as a part of it. In the H4 chart, the fifth wave of smaller degree v of C is forming, with wave (iii) of v forming as part of it. If the prediction is right, the pair will continue to fall to levels between 1.0000 and 0.9480 after it is completed. In this circumstance, the level of 1.0765 is crucial. Its breakout will help the pair to rise to levels between 1.0937 and 1.1184.
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| EURUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| EURUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| EURUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
GBPUSD Elliott Wave Analysis and Forecast for May 20, 2022–May 27, 2022
Main scenario: short positions should be considered if the correction has finished below 1.2787, with a target of 1.2055 – 1.1900.
Alternative scenario: The pair will continue to rise to levels of 1.3083 – 1.3302 if it breaks out and consolidates above the level of 1.2787.
On the daily chart, the first wave of a bigger degree (1) has developed, and a bearish corrective is forming as wave 2. (2).On the H4 chart, wave C of (2) is forming, with the fifth wave v of C as its component. The third wave of a smaller degree (iii) of v looks to have developed on the H1 chart, and the local correction is unfolding as the fourth wave (iv) of v of C, with wave c of (iv) unfolding as part of it. If the forecast is true, the pair will continue to fall to levels between 1.2055 and 1.1900. In this scenario, the level of 1.2787 is key, as a breakout will allow the pair to continue advancing to levels of 1.3083 – 1.3302.
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| GBPUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| GBPUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| GBPUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
USDCHF Elliott Wave Analysis and Forecast for May 20, 2022–May 27, 2022
Main scenario: Consider long positions above 0.9615 when the correction is completed, with a target of 1.0200–1.0400.
Alternative scenario: The pair will continue to fall to levels of 0.9515 – 0.9194 if it breaks and consolidates below the level of 0.9615.
Wave 3 of (3) is growing as part of the third wave of bigger degree (3) that is developing on the daily chart. In the H4 chart, the third wave of smaller degree iii of 3 is supposedly emerging, with wave (iii) of iii forming inside. The fourth wave (iv) of iii in the H1 chart appears to be the completion of a local correction. If this assumption is right, and the correction is complete, the pair will continue to rise to levels between 1.0200 and 1.0400. In this circumstance, the level of 0.9615 is critical. Its break will allow the pair to continue dropping to 0.9515 – 0.9194 levels.
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| USDCHF Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| USDCHF Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| USDCHF Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
USDJPY Elliott Wave Analysis and Forecast for May 20, 2022–May 27, 2022
Short positions from corrections below 129.81 with a target of 124.64 – 122.57 are the main scenario.
Alternative scenario: The pair will continue to rise to levels of 135.00 – 140.00 if it breaks out and consolidates above the level of 129.81.
In the daily chart, the third wave of bigger degree (3) is still building, with wave 3 of (3) forming inside. The third wave of smaller degree iii of 3 appears to have ended on the H4 chart, and a corrective wave iv of 3 has begun to form. In the hourly chart, wave (a) of iv looks to have developed, wave (b) of iv has likewise completed, and wave (c) of iv is developing. If the forecast is true, the pair will continue to fall to values between 124.64 and 122.57. In this scenario, the level of 129.81 is key, as a breakout will allow the pair to continue rising to levels of 135.00 – 140.00.
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| USDJPY Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| USDJPY Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| USDJPY Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
USDCAD Elliott Wave Analysis and Forecast for May 20, 2022–May 27, 2022
Short positions on corrections below 1.3070 with a target of 1.2534–1.2410 are the main scenario.
Alternative scenario: The pair will continue to rise to levels of 1.3428 – 1.3716 if it breaks out and consolidates above the level of 1.3070.
Analysis: A downward correction has reportedly been finished as the fourth wave 4 of larger degree on the daily chart, and the fifth wave 5 has begun to form. The first inceptive wave of a smaller degree 1 of (1) of 5 has been completed in the H4 chart. As the second wave 2 of (1) of 5, a local corrective is forming. The wave an of 2 is forming on the H1 chart, in which the wave (iii) of an is unfolding. If the prediction is right, the pair will continue to fall to 1.2534–1.2410 levels. In this scenario, the level of 1.3070 is key, as its breakthrough will allow the pair to continue advancing to levels of 1.3428 – 1.3716.
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| USDCAD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| USDCAD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| USDCAD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
XAUUSD Elliott Wave Analysis and Forecast for May 20, 2022–May 27, 2022
Long positions from corrections over 1784.38 with a goal of 1997.97 – 2070.98 are the main scenario.
Alternative scenario: The pair will continue to fall to levels of 1722.24 – 1616.95 if it breaks and consolidates below the level of 1784.38.
In the daily chart, the third wave of bigger degree (3) is still developing, with the fifth wave 5 of (3) forming inside. In the H4 chart, wave iii of 5 appears to be complete, with a local corrective as the fourth wave iv of 5. The hourly chart appears to be generating the fifth wave v of 5, with the inceptive wave of a smaller degree I of v forming inside. If my prediction holds true, the pair will rise to 1997.97 – 2070.98. In this situation, the level of 1784.38 is crucial because if it is broken, the pair will continue to fall to the levels of 1722.24 – 1616.95.
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| XAUUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| XAUUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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| XAUUSD Elliott Wave Analysis and Forecast for May 20, 2022 – May 27, 2022 |
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