EURUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

The primary scenario is to take into account long positions on declines over the level of 0.9945 with a target of 1.0618 to 1.0787.

An alternative possibility is that the pair will continue to decline to levels between 0.9800 and 0.9700 after breaking out and consolidating below the level of 0.9945.

Analysis: On the weekly chart, an irregular flat ()-()-(C) indicates that a corrective wave of greater degree B is apparently still developing. On the daily chart, wave (B) of (B) looks to have finished, with wave (B) of (B) having developed as part of it. On the H4 chart, a possible upward wave I of 1 of (C) began to form, with the first counter-trend wave of lesser degree I of I of 1 of (C) developing inside. If the assumption is accurate, the pair will increase to values between 1.0618 and 1.0787. In this case, the value of 0.9945 is crucial. The pair will be able to keep sliding to the levels of 0.9800 - 0.9700 after its breakthrough.

EURUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
EURUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

EURUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
EURUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

EURUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
EURUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022


GBPUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

The main scenario is to think about taking long positions from corrections over 1.1886 with a target of 1.2406 to 1.2685.

An alternative possibility is that the pair will continue to fall to levels between 1.1600 and 1.1450 with a breakout and consolidation below the level of 1.1886.

Analysis: On the daily chart, the first wave of greater magnitude (1) has formed, and wave (2) may have emerged as a descending correction. On the H4 chart, wave C of (2) formed, with the fifth wave v of C complete as its component. The larger third wave (3) has begun to materialise. On the H1 chart, it appears that wave (iii) of I the first wave of smaller degree I of 1 of (3), is developing. The pair will increase to the levels of 1.2406 - 1.2685 if the assumption is right. In this case, the level of 1.1886 is crucial because a break of it would allow the pair to continue falling to levels between 1.1600 and 1.1450.

GBPUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
GBPUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

GBPUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
GBPUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

GBPUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
GBPUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022


USDCHF : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

Consider taking long positions on corrections over the level of 0.9493 with a target of 1.0062 to 1.0200 as the main scenario.

An alternative scenario is that the pair will continue to decline to levels between 0.9285 and 0.9151 with a breakout and consolidation below the level of 0.9493.

Analysis: Wave 3 of (3) is emerging as the third wave of bigger degree (3) on the daily chart. On the H4 chart, the third wave of smaller degree iii of 3 forms, and the fourth wave iv of 3 concludes a descending correction.On the H1 chart, it appears that the fifth wave of smaller degree v of 3 is developing, with wave I of v having formed and wave (ii) of v, a local corrective, apparently nearing completion. If the assumption is true, after the correction the pair will continue to rise in wave (iii) of v to the levels of 1.0062 - 1.0200. In this case, the value of 0.9493 is crucial. If it breaks out, the pair will be free to keep sliding until it reaches levels between 0.9285 and 0.9151.

USDCHF : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDCHF : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

USDCHF : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDCHF : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

USDCHF : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDCHF : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022


USDJPY : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

The primary scenario is to think about taking short positions from corrections below the level of 139.42 with a target range of 131.85 to 127.21.

An alternative scenario is that the pair will continue to rise to levels between 142.36 and 145.00 after breaking out and consolidating above the level of 139.42.

On the daily chart, wave 3 of the bigger degree (3) is forming as part of the third wave, which is being developed. According to the H4 chart, a downward correction is purportedly building as the third wave 3 of wave (3). On the H1 chart, wave (v) of an of 4 of smaller degree is most likely complete and created. Once wave b of 4 is over, if the assumption is true, the pair will keep falling until it reaches levels of 131.85 - 127.21. In this scenario, the level of 139.42 is crucial since a break of it will allow the pair to continue advancing to levels between 142.36 and 145.00.

USDJPY : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDJPY : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

USDJPY : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDJPY : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

USDJPY : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDJPY : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022


USDCAD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

The primary scenario is to think about taking short positions from corrections below the level of 1.2950 with a target range of 1.2650-1.2540.

Alternative scenario: The pair will be able to continue climbing to the levels of 1.3084–1.3220 with a breakout and consolidation above the level of 1.2950.

Analysis: On the daily chart, the first wave of bigger degree (1) of 5 is likely forming, with wave (1) of (1) developed as a part of it. A descending correction is forming as the second wave 2 of (1) on the H4 chart, with wave b of 2 already created inside.The H1 chart shows the development of wave c of wave 2. It consists of three parts: the formation of wave I of smaller degree (c), the completion of a local correction as wave (ii) of c, and the beginning of wave (iii) of c. If the assumption is accurate, the pair will keep falling until it reaches values between 1.2650 and 1.2540. In this scenario, the level of 1.2950 is crucial since a breach there would allow the pair to continue advancing to levels between 1.3084 and 1.3220.

USDCAD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDCAD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

USDCAD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDCAD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

USDCAD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
USDCAD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022


WTIUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

The primary scenario is to think about taking short positions from corrections below the level of 103.75 with a target range of 84.25 to 79.00.

An alternative possibility is that the asset will continue to rise to levels between 115.91 and 123.95 after breaking out and consolidating above the level of 103.75.

Analysis: According to the daily chart, the first wave of bigger degree (1) is still developing, with wave 3 of (1) having developed inside. On the H4 chart, a downward correction is likely developing as the fourth wave 4 of (1), with wave c of 4 developing as a component. According to the H1 chart, wave (iii) of c has formed, wave (iv) of c has finished as a local corrective, and wave (v) of c is now taking shape.In wave (v) of c, wave iii of (v) has likely begun to develop. If the assumption is accurate, the price will keep decreasing until it reaches the range of 84.25 to 79.00. In this scenario, the level of 103.75 is crucial since a breakout there would allow for further price growth to levels between 115.91 and 123.95.

WTI Crude Oil : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
WTI Crude Oil : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

WTI Crude Oil : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
WTI Crude Oil : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

WTI Crude Oil : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
WTI Crude Oil : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022


XAUUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

The primary scenario is to think about taking short positions from corrections below the level of 1790.54 with a target range of 1650.00 to 1603.30.

An alternative scenario is that the pair will continue to rise to the levels of 1879.10 and 1997.97 after breaking out and consolidating above the level of 1790.54.

Analysis: On the daily chart, a bearish correction is still forming as the fourth wave of bigger degree (4), with wave C of (4) forming inside. On the H4 chart, the third wave of smaller degree (iii) of v, which is a portion of the fifth wave v of C, looks to be completing. On the H1 chart, wave (iv) of v appears to be nearing completion as wave (c) of (iv), which is a component of wave (iv). If the assumption is accurate, the pair will continue to decline to the levels of 1650.00 - 1603.30 when it is finished. In this scenario, the level of 1790.54 is crucial since a breakout there would allow the pair to continue advancing to levels of 1879.10 and 1997.97.

XAUUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
XAUUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

XAUUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
XAUUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022

XAUUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022
XAUUSD : Elliott wave analysis and forecast for 29.07.2022 – 05.08.2022





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