EURUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22
The primary scenario is to take into account long positions on declines over the level of 0.9947 with a target of 1.0618 to 1.0787.
An alternative scenario is that the pair will continue to decline to levels between 0.9800 and 0.9700 if breakout and consolidation below the level of 0.9947 occur.
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, it appears that wave (B) of is complete, with wave (B) of having formed as a component. B wave's bullish wave () has begun to form. On the H4 chart, an ascending wave I of 1 of (C) is most likely developing. Its interior produced the first counter-trend wave of smaller degree I of I of 1 of (C), and the second wave (ii) of I of 1 of the local adjustment is almost finished (C). The pair will rise to the levels of 1.0618 - 1.0787 after the correction is finished, if the assumption is right. In this case, the value of 0.9947 is crucial. The pair will be able to keep sliding to the levels of 0.9800 - 0.9700 after its breakthrough.
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| EURUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| EURUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| EURUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
GBPUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22
Main scenario: After the correction is finished, try taking long positions above the level of 1.1751 with a goal of 1.2406 to 1.2685.
An alternative possibility is that the pair will continue to fall to levels between 1.1600 and 1.1402 after breaking through and consolidating below the level of 1.1751.
On the daily chart, the first wave of greater magnitude (1) has formed, and a descending corrective has likely occurred as wave (2). On the H4 chart, wave C of (2) is produced, with the fifth wave v of C being its component. The larger third wave (3) has begun to materialise. On the H1 chart, it appears that the first wave of smaller degree I of 1 of (3) has formed. Additionally, wave (c) of wave ii, the second wave ii of wave 1 of (3), is forming as a local corrective. If the assumption is accurate, the pair will increase further after the correction, reaching levels between 1.2406 and 1.2685. In this situation, the level of 1.1751 is crucial because a break of it would allow the pair to continue falling to the levels of 1.1600 - 1.1402.
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| GBPUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| GBPUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| GBPUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
USDCHF : Elliott wave analysis and forecast for 16.08.22 – 26.08.22
The primary scenario is to think about taking short positions from corrections below the level of 1.0056, with a target range of 0.9076 to 0.8918.
An alternative scenario is that the pair will continue to rise to levels between 1.0350 and 1.0600 with a breakout and consolidation above the level of 1.0056.
Analysis : On the weekly chart, wave (5) of 5 is formed as the fifth wave of the greater degree 5 of (V), which is likely to continue developing. On the daily chart, wave I of 1 has formed inside the first wave of smaller degree 1 of (5) that is developing. According to the H4 chart, wave ii of wave 1 appears to be a local correction. If this supposition is true, the pair will keep falling until it reaches the levels of 0.9076 and 0.8918 after the correction. In this case, the level of 1.0056 is crucial. The pair will be able to continue gaining once it breaks out to levels between 1.0350 and 1.0600.
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| USDCHF : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| USDCHF : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| USDCHF : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
USDJPY : Elliott wave analysis and forecast for 16.08.22 – 26.08.22
the 127.21–123.53 range as a target for short positions from corrections below the level of 139.52.
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 139.52.
Analysis: On the daily chart, the third wave of larger degree (3) is taking shape, and wave (3) has developed as a part of it. On the H4 chart, a downside correction is still forming as the fourth wave 4 of (3), with wave an of 4 forming inside. On the H1 chart, wave (c) of b is forming as wave b of 4 appears to be coming to an end. The pair will resume falling in wave c of 4 to the levels of 127.21 - 123.53 if the assumption is right. Wave b of 4 formed first. In this case, the level of 139.52 is crucial since a breakout there would allow the pair to advance further, to levels between 142.36 and 145.00.
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| USDJPY : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| USDJPY : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| USDJPY : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
USDCAD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22
Main scenario: Take into account short positions below 1.3046 with 1.2650–1.2540 as the ultimate goal once the correction is through.
An alternative possibility is that the pair will continue to rise to levels between 1.3220 and 1.3316 after breaking out and consolidating above the level of 1.3046.
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 waves b and c of that correction having already formed. On the H1 chart, it appears that the first wave of the lesser degree I of c has developed, and the second wave (ii) of c is ending the local corrective. If the assumption is accurate, the pair will continue to decline to the levels of 1.2650 - 1.2540 when it is finished. In this scenario, the level of 1.3046 is crucial since a breakout there would allow the pair to continue advancing to the levels of 1.3220-1.3316.
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| USDCAD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| USDCAD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| USDCAD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
WTI Crude Oil : Elliott wave analysis and forecast for 16.08.22 – 26.08.22
Main scenario: From corrections above the level of 86.25, consider long positions with a target of 104.15 to 115.90.
An alternative possibility is that the asset will continue to decline to levels between 80.00 and 69.28 if it breaks out and consolidates below the level of 86.25.
Analysis: It appears that the greater degree (1) first wave is still developing on the daily chart, with (1) wave 3 having developed inside. On the H4 chart, a downward correction appears to have ended as the fourth wave 4 of (1), with wave c of 4 developing as a component. On the H1 chart, it appears that the fifth wave 5 of (1) began to form, with the first counter-trend wave of smaller degree I of I of 5 forming as a component of it. The asset's price will continue to climb to between 104.15 and 115.90 if the assumption is right. In this situation, the level of 86.25 is crucial since a breakout would allow the price to continue falling to the levels of 80.00 - 69.28.
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| WTI Crude Oil : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| WTI Crude Oil : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| WTI Crude Oil : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
XAUUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22
Main scenario: After the correction, take into account long positions above the level of 1680.62 with targets of 1879.10 and 1997.97.
An alternative scenario is that the pair will continue to fall to levels between 1650.00 and 1601.80 after breaking through and consolidating below the level of 1680.62.
Analysis: On the daily chart, wave C of wave (4) has been completed inside what appears to be a downward corrective as the fourth wave (4) of larger degree. On the H4 chart, it appears like the fifth wave (5) is beginning to take shape. On the H1 chart, it appears that the development of the first counter-trend wave of smaller degree I of 1 of (5) has stopped, and a local correction is developing as the second wave ii of 1, with wave (a) of ii forming inside. If the assumption is accurate, after the correction is finished, the pair will rise to the levels of 1879.10 - 1997.97. In this case, the level of 1680.62 is crucial because a break of it would allow the pair to continue falling to levels between 1650.00 and 1601.80.
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| XAUUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| XAUUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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| XAUUSD : Elliott wave analysis and forecast for 16.08.22 – 26.08.22 |
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