EURUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
1.1300–1.1500 is the aim for long positions taken from corrections above the level of 1.0798.
An alternative possibility is that the pair will continue to decline to levels between 1.0500 and 1.0328 with a breakout and consolidation below the level of 1.0798.
Analysis: On the daily chart, a bearish wave of greater degree A is likely complete, with the fifth wave (5) of A forming as a part of it. On the H4 chart, it appears that an ascending wave B began to form, with the first counter-trend wave of lesser degree 1 of (A) of B continuing to form as its component. On the H1 chart, wave v of 1 is likely still developing, with wave (iii) of v developing inside. If the assumption is accurate, the pair will increase to levels between 1.1300 and 1.1500. In this case, the level of 1.0798 is crucial. If it breaks out, the pair will be able to keep dropping until it reaches levels between 1.0500 and 1.0328.
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| EURUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| EURUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| EURUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
GBPUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
Main scenario: After a pullback, take into account long positions above the level of 1.1847 with a target of 1.2674 to 1.3000.
An alternative possibility is that the pair will continue to fall to levels between 1.1405 and 1.1154 after breaking through and consolidating below the level of 1.1847.
Analysis: Wave 5 of V was generated as the fifth wave of bigger degree V, which is thought to have completed developing on the daily chart. An upward first wave (1) began to build on the H4 chart, with wave 5 of (1) forming inside. According to the H1 chart, wave I of the smaller degree of 5 has formed, and wave ii of the smaller degree of 5 is currently developing locally. If the assumption is accurate, the pair will increase further following the correction, reaching values between 1.2674 and 1.3000. In this case, the level of 1.1847 is crucial because a break of it would allow the pair to continue falling to levels between 1.1405 and 1.1154.
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| GBPUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| GBPUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| GBPUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
USDJPY : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
the 125.35–121.52 range as a goal for short positions from corrections below the level of 130.60.
An alternative scenario is that the pair will continue to rise to levels between 134.92 and 138.24 after breaking out and consolidating above the level of 130.60.
Analysis: On the daily chart, the upward third wave of bigger degree (3) has finished developing, and wave 5 of (3) has developed as a part of it. On the H4 chart, wave C of (4) is forming as the fourth wave (4) of a descending correction that appears to be continuing to develop. On the H1 chart, wave (iv) of smaller degree iii of C, the local correction, and the third wave of smaller degree iii of C look to still be forming. It is now wave (v) of C's iii. If this presumption is true, the pair will keep falling until it reaches 125.35 - 121.52. In this case, the level of 130.60 is crucial since a breakout there would allow the pair to advance further, to levels between 134.92 and 138.24.
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| USDJPY : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| USDJPY : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| USDJPY : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
USDCHF : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
The primary scenario is to think about taking short positions on corrections below the level of 0.9281 with a target range of 0.9025 to 0.8925.
An alternative scenario is that the pair will continue to rise to levels between 0.9550 and 0.9810 with a breakout and consolidation above the level of 0.9281.
Analysis: On the daily chart, a bullish third wave of greater degree (3) is forming, with wave 1 of (3) forming inside. The H4 chart shows wave 2 of (3), or a downward correction, with wave c of 2 forming as its component. On the H1 chart, wave iv of the smaller degree (v) of c, which is a part of the fifth wave, appears to be developing. The development of wave (v) continues. If the assumption is accurate, the pair will keep falling until it reaches the range of 0.9025 and 0.8925. In this case, the value of 0.9281 is crucial. The pair will be able to continue gaining after its breakout to the levels of 0.9550 to 0.9810.
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| USDCHF : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| USDCHF : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| USDCHF : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
USDCAD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
Main scenario: Once a correction formed, think about taking long positions above the level of 1.3026 with a goal of 1.3700 to 1.3975.
An alternative possibility is that the pair will continue to fall to the levels of 1.2722 to 1.2403 after breaking through and consolidating below the level of 1.3026.
Analysis: Wave (3) of 5 is forming as the fifth wave of bigger degree 5 that is apparently developing on the daily chart. On the H4 chart, the third wave of (3) is still developing; wave iii of 3 has formed, and wave iv of 3, a local corrective, is almost finished. On the H1 chart, wave (v) of (c) is forming as wave (c) of iv appears to be unfolding. If the assumption is accurate, the pair will increase further after the correction, reaching values between 1.3700 and 1.3975. In this case, the level of 1.3026 is crucial because a break of it would allow the pair to continue falling to the levels of 1.2722 and 1.2403.
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| USDCAD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| USDCAD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| USDCAD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
WTI Crude Oil : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
The primary scenario is to think about taking short positions from corrections below the level of 82.38 with a target range of 63.00 to 54.50.
An alternative scenario is that the asset will continue to rise to levels between 94.70 and 104.00 after breaking out and consolidating above the level of 82.38.
Analysis: On the daily chart, the first wave of greater magnitude (1) is likely to have developed, and a negative corrective is still developing as the second wave (2). On the H4 chart, wave C of (2) is purportedly developing. It also contains a local correction that was created by the smaller degree IV of C's fourth wave. The H1 chart shows what looks to be the fifth wave of smaller degree v of C, which includes wave (v) of v finished. If the assumption is accurate, the price will keep dropping until it reaches the range of 63.00 - 54.50. In this case, the level of 82.38 is crucial because a breakout there would allow for further price growth to levels between 94.70 and 104.00.
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| WTI Crude Oil : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| WTI Crude Oil : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| WTI Crude Oil : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
XAUUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
Main scenario: Take into account long positions above the level of 1865.40 with an after-correction objective of 2000.00 to 2050.00.
An alternative scenario is that the pair will continue to decline to levels between 1818.01 and 1772.93 after breaking out and consolidating below the level of 1865.40.
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. H4 chart: It appears that the fifth wave (5) has begun to take shape, with the smaller degree 1 of wave (5) forming inside. On the H1 chart, wave iii of 1 is said to have finished forming, and wave iv of 1—a local correction—began to take shape. If the assumption is accurate, the pair will continue to increase after the correction, reaching values between 2000.00 and 2050.00. In this scenario, the level of 1865.40 is crucial since a breakout there would allow the pair to continue falling to levels between 1818.01 and 1772.93.
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| XAUUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| XAUUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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| XAUUSD : Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 |
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