EURUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22.
The primary scenario is to think about taking long positions on corrections over the level of 1.0090 with a target of 1.0618 to 1.0787.
An alternative possibility is that the pair will continue to fall to levels between 0.9959 and 0.9800 after breaking through and consolidating below the level of 1.0090.
Analysis: On the weekly chart, an irregular flat ()-()-(C) indicates that a corrective wave of larger degree B is still likely to be developing. On the daily chart, it appears that wave (B) of is complete, with wave (B) of having formed as a component. It appears that wave B of the bullish pattern has begun to develop. On the H4 chart, it appears as though an ascending wave I of 1 of (C) is taking shape, with the first counter-trend wave of smaller degree I of I of 1 of (C) forming as a component of it. If the assumption is accurate, the pair will increase to values between 1.0618 and 1.0787. In this case, the level of 1.0090 is crucial. If it breaks out, the pair will be free to keep declining until it reaches levels between 0.9959 and 0.9800.
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| EURUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| EURUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| EURUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
GBPUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22.
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 1.1750 and 1.1600 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 formation of the third, bigger degree wave has begun. The H1 chart appears to be developing the first wave of the lesser degree I of 1 of (3), with wave (iv) of I likely completed and wave (v) of I developing as its component. 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 1.1750 and 1.1600.
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| GBPUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| GBPUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| GBPUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
USDCHF : Elliott wave analysis and forecast for 05.08.22 – 12.08.22.
The primary scenario is to take into account long positions from corrections above the level of 0.9467 with a target range of 0.9889 to 1.0062.
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 0.9467.
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 like the first counter-trend wave I of v began forming inside the fifth wave v of wave three. The pair will increase to the levels of 0.9889 - 1.0062 if the assumption is right. In this case, the value of 0.9467 is crucial. If it breaks out, the pair will be free to keep sliding until it reaches levels between 0.9285 and 0.9151.
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| USDCHF : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| USDCHF : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| USDCHF : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
USDJPY : Elliott wave analysis and forecast for 05.08.22 – 12.08.22.
the 127.21–123.53 range as a target for short positions from corrections below the level of 139.42.
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.
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. According to the H4 chart, a downward correction is purportedly building as the third wave 3 of wave (3). On the H1 chart, it appears that a wave of smaller degree, wave an of 4, has finished, and wave b of 4, a local correction, is developing. If the assumption is accurate, the pair will continue to decline after the correction to the levels of 127.21 - 123.53. In this case, the level of 139.42 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 05.08.22 – 12.08.22. |
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| USDJPY : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| USDJPY : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
USDCAD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22.
The primary scenario is to think about taking short positions on corrections below the level of 1.2944 with a target range of 1.2650-1.2540.
An alternative possibility is that the pair will continue to rise to the levels of 1.3084–1.3220 after breaking out and consolidating above the level of 1.2944.
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 like wave iii of (iii), the third wave of smaller degree (iii) of c, is developing. 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 1.2944 is crucial since a breach there would allow the pair to continue advancing to the levels of 1.3084 to 1.3220.
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| USDCAD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| USDCAD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| USDCAD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
Crude Oil : Elliott wave analysis and forecast for 05.08.22 – 12.08.22.
The primary scenario is to think about taking short positions from corrections below the level of 98.25 with a target range of 84.25 to 69.28.
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 98.25.
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 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.Within wave (v) of c, the third wave of smaller degree iii of (v) is currently in progress. If the assumption is accurate, the price will keep decreasing until it reaches between 84.25 and 69.28. In this case, the level of 98.25 is crucial since a breakout would allow the price to increase further to levels between 115.91 and 123.95.
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| Crude Oil : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| Crude Oil : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| Crude Oil : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
XAUUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22.
The primary scenario is to think about taking long positions from corrections above the level of 1679.70 with a target range of 1879.10 to 1997.97.
An alternative scenario is that the pair will continue to fall to levels between 1650.00 and 1603.30 with a breakout and consolidation below the level of 1679.70.
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 form. On the H1 chart, wave (v) of I the first counter-trend wave of smaller degree I of 1 of (5), is most likely developing. The pair will increase to the levels of 1879.10 - 1997.97 if the assumption is accurate. In this case, the level of 1679.70 is crucial because a break of it would allow the pair to continue falling to levels between 1650.00 and 1603.30.
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| XAUUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| XAUUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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| XAUUSD : Elliott wave analysis and forecast for 05.08.22 – 12.08.22. |
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