EURUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23
The primary scenario is to think about taking short positions on corrections below the level of 1.0755 with a target range of 1.0328–1.0165.
An alternative scenario is that the pair will continue to rise to levels between 1.1035 and 1.1300 with a breakout and consolidation above the level of 1.0755.
Analysis: On the daily chart, a bearish wave of greater degree A is likely complete, and the fifth wave (5) of the pattern has formed as a component of it. A bullish wave B began to form. In the H4 chart, it appears that the smaller degree first counter-trend wave of (A) of B has completed forming, and wave 2 of (A) of B, with wave an of 2 forming as its component, is developing as a downside correction. The corrective wave (iv) of a on the H1 chart has finished, and wave (v) of a has begun to form, with wave ii of (v) unfolding as its component. If the assumption is accurate, the pair will keep falling until it reaches the range of 1.0328-1.0165. In this case, the level of 1.0755 is crucial. The pair will be able to continue gaining when it breaks through to levels between 1.1035 and 1.1300.
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| EURUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| EURUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| EURUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
USDCHF : Elliott wave analysis and forecast for 20.03.23 – 24.03.23
Key scenario: From corrections above the level of 0.9070, take into account long positions with a target of 0.9611 to 0.9810.
An alternative scenario is that the pair will continue to fall to levels between 0.8950 and 0.8850 if breakout and consolidation below the level of 0.9070 occur.
Analysis: On the daily chart, a bullish third wave of greater degree (3) is forming, with wave 1 of (3) forming inside. As wave 2 of (3) on the H4 chart, a downward correction is most likely finished. The first wave of smaller degree I of 3 formed as part of the third wave 3 of (3), which then began to take shape. According to the H1 chart, wave I of I has developed, a local correction has been completed as wave (ii) of I and wave (iii) of I is now forming. The pair will increase to the levels of 0.9611 to 0.9810 if the assumption is right. In this case, the value of 0.9070 is crucial. If it breaks out, the pair will be free to keep declining until it reaches levels between 0.8950 and 0.8850.
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| USDCHF : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| USDCHF : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| USDCHF : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
GBPUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23
the 1.1655–1.1405 range as a target for short positions from corrections below the level of 1.2444.
An alternative scenario is that the pair will continue to rise to levels between 1.2700 and 1.3050 if it breaks out and consolidates above the level of 1.2444.
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. The formation of the first ascending wave (1) on the H4 chart is complete. The second wave (2) of a bearish correction, of which wave of (2) was established, is currently taking shape. According to the H1 chart, wave B of (2), or a local correction, has evidently finished growing, and wave C of (2) has begun forming. The pair will continue to decline until it reaches levels of 1.1655 - 1.1405, if the assumption is accurate. In this scenario, the level of 1.2444 is crucial since a breach there would allow the pair to continue advancing to levels between 1.2700 and 1.3050.
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| GBPUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| GBPUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| GBPUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
USDJPY : Elliott wave analysis and forecast for 20.03.23 – 24.03.23
Key scenario: After a correction has ended, think about taking long positions above the level of 129.71 with a target of 140.00 to 142.43.
An alternative possibility is that the pair will continue to fall to levels between 127.06 and 125.00 after breaking through and consolidating below the level of 129.71.
Analysis: On the daily chart, an ascending third wave of greater degree (3) has formed, and the fourth wave is most likely a descending corrective (4). An upward fifth wave (5) has probably begun to form on the H4 chart, with wave 1 of (5) growing inside. In the H1 chart, it appears that the lesser degree iii of wave number one's third wave has formed, and wave (c) of wave number one's fourth wave, which is a local correction, is continuing to form. If the assumption is accurate, the pair will continue to increase after the correction, reaching values between 140.00 and 142.43. In this scenario, the level of 129.71 is crucial since a breakout would allow the pair to keep falling to the levels of 127.06 and 125.00.
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| USDJPY : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| USDJPY : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| USDJPY : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
USDCAD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23
Key scenario: Once a correction formed, think about taking long positions above the level of 1.3485 with a target of 1.4054 to 1.4300.
An alternative possibility is that the pair will continue to decline to levels between 1.3400 and 1.3260 with a breakout and consolidation below the level of 1.3485.
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 3 of (3) is still forming, with a corrective having finished as wave iv of 3. The third wave is now emerging, wave v. In the H1 chart, it appears that the first counter-trend wave of smaller degree I of v has developed, and the second wave (ii) of v is forming a local correction. If the premise is true, the pair will continue to rise to the levels of 1.4054 - 1.4300 once the downturn is done. In this case, the level of 1.3485 is crucial since a break of it would allow the pair to continue falling to the levels of 1.3400 to 1.3260.
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| USDCAD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| USDCAD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| USDCAD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
WTI Crude Oil : Elliott wave analysis and forecast for 20.03.23 – 24.03.23
The primary scenario is to take into account short positions from corrections below the level of 77.30 with a target range of 60.00 to 54.50.
An alternative possibility is that the asset will continue to rise to levels between 88.00 and 94.50 if it breaks out and consolidates above the level of 77.30.
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, it appears that Wave C of (2) is developing, with the fourth wave of smaller degree iv of C inside. The fifth wave v of the C began to develop. On the H1 chart, it appears that wave (iii) of v is developing. If the assumption is accurate, the asset's price will keep decreasing to between 60 and 54.50. In this scenario, the level of 77.30 is crucial since a breach there would allow for further price growth to levels between 88.00 and 94.50.
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| WTI Crude Oil : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| WTI Crude Oil : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| WTI Crude Oil : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
XAUUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23
The primary scenario is to think about opening long positions on corrections over the level of 1855.00 with a target of 2000.00 to 2050.00.
An alternative possibility is that the pair will continue to decline to levels between 1803.10 and 1771.95 after breaking out and consolidating below the level of 1855.00.
Analysis: On the daily chart, the fourth wave of greater degree (4) of a downward correction is likely complete, and the fifth wave (5) is currently forming. On the H4 chart, it appears as though the first wave of smaller degree 1 of (5) is formed and a local corrective is finished as second wave 2 of (5). Wave I of wave 3 began to develop as the third wave 3 of wave (5) began to take shape. In the H1 chart, wave (iii) of I of 3 has formed, and wave (iv) of I of 3 has begun to develop as a local corrective. 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 1855.00 is crucial because a breakout there would allow the pair to continue falling to levels between 1803.10 and 1771.95.
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| XAUUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| XAUUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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| XAUUSD : Elliott wave analysis and forecast for 20.03.23 – 24.03.23 |
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