EURUSD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022.
The primary scenario is to take into account long positions on declines over the level of 1.0119 with a target of 1.0618 to 1.0787.
An alternative scenario is that the pair will continue to decline to levels between 0.9959 and 0.9800 with a breakout and consolidation below the level of 1.0119.
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, 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 1.0119 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 12.08.2022 – 19.08.2022. |
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| EURUSD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| EURUSD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
GBPUSD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022.
The main scenario is to think about taking long positions from corrections over 1.2000 with a goal 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 after breaking through and consolidating below the level of 1.2000.
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) 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, wave (iv) of I has completed and wave (v) of I is developing as its component, suggesting that the first wave of smaller degree I of 1 of (3) is still developing. The pair will increase to the levels of 1.2406 - 1.2685 if the assumption is right. In this case, the level of 1.2000 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 12.08.2022 – 19.08.2022. |
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| GBPUSD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| GBPUSD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
USDCHF : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022.
Using a target of 0.9076 to 0.8918, consider taking short positions on corrections below the level of 0.9656.
An alternative possibility is that the pair will continue to rise to the levels of 0.9889–1.0062 if it breaks out and consolidates above the level of 0.9656.
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 iii of wave 1 is forming inside the first wave of smaller degree 1 of (5). On the H4 chart, it appears that wave iii's third wave (iii) is developing. If this presumption is true, the pair will keep falling until it reaches 0.9076 - 0.8918. In this case, the value of 0.9656 is crucial. The pair will be able to continue gaining when it breaks through to levels between 0.9889 and 1.0062.
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| USDCHF : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| USDCHF : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| USDCHF : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
USDJPY : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022.
the 127.21–123.53 range as a target for short positions from corrections below the level of 135.62.
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 135.62.
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 b of 4 forming inside. On the H1 chart, wave I of c was produced, suggesting that wave c of wave 4 is developing there. Once wave (ii) of c is finished, if the assumption is right, the pair will keep falling until it reaches levels of 127.21 - 123.53. In this case, the level of 135.62 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 12.08.2022 – 19.08.2022. |
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| USDJPY : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| USDJPY : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
USDCAD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022.
The primary scenario is to think about taking short positions from corrections below the level of 1.2983 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 1.2983.
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 beginning to form. If the assumption is accurate, the pair will keep falling until it reaches levels between 1.2650 and 1.2540 after the corrective wave (iii) wave iv is finished. In this scenario, the level of 1.2983 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 12.08.2022 – 19.08.2022. |
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| USDCAD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| USDCAD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
WTI Crude Oil : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022.
Main scenario: From corrections above the level of 88.40, consider long positions with a target of 103.85 - 115.90.
An alternative possibility is that the asset will continue to decline to levels between 83.77 and 69.28 if it breaks out and consolidates below the level of 88.40.
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. If the assumption is true, the asset's price will keep increasing until it reaches the range of 103.85 to 115.90. In this scenario, the level of 88.40 is crucial since a breakout would allow the price to keep falling to the range of 83.77 and 69.28.
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| WTI Crude Oil : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| WTI Crude Oil : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| WTI Crude Oil : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
GOLD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022.
Main scenario: Take into account long positions above the level of 1729.27 with an after-correction goal of 1879.10 - 1997.97.
An alternative scenario is that the pair will continue to decline to levels between 1681.18 and 1650.00 after breaking out and consolidating below the level of 1729.27.
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 that the fifth wave (5) has begun to take shape. On the H1 chart, it appears that the lesser degree I of the first counter-trend wave of degree 1 of (5) has finished developing and that wave ii of the first, a local correction, has begun to take shape. If the assumption is accurate, after the correction is finished, the pair will rise to the levels of 1879.10 - 1997.97. In this scenario, the level of 1729.27 is crucial because a break of it would allow the pair to continue sliding to levels between 1650.00 and 1681.18.
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| GOLD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| GOLD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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| GOLD : Elliott wave analysis and forecast for 12.08.2022 – 19.08.2022. |
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