EURUSD : Elliott wave Analysis and Forecast for 02.02.25-08.02.25
Key Takeaways :
- Main scenario : Examine long positions with a target of 1.0635 to 1.0940 from corrections above the level of 1.0264. When the price stays over 1.0264, it is a buy signal. Take Profit: 1.0635 to 1.0940; Stop Loss: below 1.0200.
- Alternative scenario : The pair can continue to drop to the levels of 1.0100 to 0.9950 if there is a breakout and consolidation below the 1.0264 level. A sell signal occurs when the 1.0264 level is broken downward. Take Profit: between 1.0100 and 0.9950; Stop Loss: above 1.0300.
Principal Situation :
Think on taking long positions from corrections above 1.0264, aiming for 1.0635 to 1.0940.
Different Situations :
The pair can continue to drop to the levels of 1.0100 to 0.9950 if there is a breakout and consolidation below the 1.0264 level.
Think on taking long positions from corrections above 1.0264, aiming for 1.0635 to 1.0940.
Different Situations :
The pair can continue to drop to the levels of 1.0100 to 0.9950 if there is a breakout and consolidation below the 1.0264 level.
Analysis :
The daily chart shows the formation of the ascending first wave of the bigger degree (1), and the second wave (2) appears to be the completion of the bearish correction. With the completion of the fifth wave of smaller degree v of C as its component, wave C of (2) seems to have developed on the H4 time frame. On the H1 time frame, the first counter-trend wave of lesser degree (i) of i of 1 of (3) is still unfolding, and the third wave of bigger degree (3) has probably begun to emerge. The EUR/USD pair will continue to increase to 1.0635 to 1.0940 if the assumption is accurate. In this case, the 1.0264 level is crucial. The pair will be able to continue dropping to the 1.0100–0.9950 levels after its breakthrough.
The daily chart shows the formation of the ascending first wave of the bigger degree (1), and the second wave (2) appears to be the completion of the bearish correction. With the completion of the fifth wave of smaller degree v of C as its component, wave C of (2) seems to have developed on the H4 time frame. On the H1 time frame, the first counter-trend wave of lesser degree (i) of i of 1 of (3) is still unfolding, and the third wave of bigger degree (3) has probably begun to emerge. The EUR/USD pair will continue to increase to 1.0635 to 1.0940 if the assumption is accurate. In this case, the 1.0264 level is crucial. The pair will be able to continue dropping to the 1.0100–0.9950 levels after its breakthrough.
- Main scenario : Take into account long positions with a goal of 1.2764 to 1.2923 from corrections above the level of 1.2153. When the price stays over 1.2153, it is a buy signal. Take Profit: 1.2764–1.2923, Stop Loss: below 1.2100.
- Alternative scenario : The pair can continue to drop to the levels of 1.1900 to 1.1521 if there is a breakout and consolidation below the level of 1.2153. The level of 1.2153 has been breached downward, indicating a sell signal. Take Profit: 1.1900–1.1521, Stop Loss: over 1.2200.
Principal Situation :
Examine long positions with a goal of 1.2764 to 1.2923 from corrections above the level of 1.2153.
Different Situations :
The pair can continue to drop to the levels of 1.1900 to 1.1521 if there is a breakout and consolidation below the 1.2153 mark.
Examine long positions with a goal of 1.2764 to 1.2923 from corrections above the level of 1.2153.
Different Situations :
The pair can continue to drop to the levels of 1.1900 to 1.1521 if there is a breakout and consolidation below the 1.2153 mark.
Analysis :
The bearish correction is developing as the second wave 2 of (A), while the ascending first wave of larger degree 1 of (A) is most likely developed on the daily chart. The bullish corrective has begun to take shape as wave b of 2, and wave an of 2 is created on the H4 time frame. Wave (a) of b looks to be growing on the H1 time frame, during which wave v of (a) has started to form. The GBPUSD pair will keep rising to the levels of 1.2764 to 1.2923 if the assumption is accurate. In this case, the level of 1.2153 is crucial since a breakout would allow the pair to continue falling to the 1.1900–1.11521 levels.
The bearish correction is developing as the second wave 2 of (A), while the ascending first wave of larger degree 1 of (A) is most likely developed on the daily chart. The bullish corrective has begun to take shape as wave b of 2, and wave an of 2 is created on the H4 time frame. Wave (a) of b looks to be growing on the H1 time frame, during which wave v of (a) has started to form. The GBPUSD pair will keep rising to the levels of 1.2764 to 1.2923 if the assumption is accurate. In this case, the level of 1.2153 is crucial since a breakout would allow the pair to continue falling to the 1.1900–1.11521 levels.
- Main scenario : Take into account short positions with a goal of 0.8724 to 0.8386 from corrections below the level of 0.9201. A sell signal occurs when the 0.9201 level is broken downward. Take Profit: 0.8724–0.8386, Stop Loss: over 0.9250.
- Alternative scenario : The pair can continue to rise to the levels of 0.9340 to 0.9530 if there is a breakout and consolidation above the level of 0.9201. When the price stays over 0.9201, it is a buy signal. Take Profit: 0.9340 to 0.9530; Stop Loss: below 0.9150.
Principal Situation :
With a target of 0.8724 to 0.8386, take into account short positions from corrections below the level of 0.9201.
Different Situations :
The pair can continue to rise to the levels of 0.9340 to 0.9530 if there is a breakout and consolidation above the level of 0.9201.
With a target of 0.8724 to 0.8386, take into account short positions from corrections below the level of 0.9201.
Different Situations :
The pair can continue to rise to the levels of 0.9340 to 0.9530 if there is a breakout and consolidation above the level of 0.9201.
Analysis :
On the weekly chart, wave (5) of 5 is forming as part of the bearish fifth wave of bigger degree 5. On the daily chart, the ascending corrective appears to have formed as the second wave 2 of (5), with wave c of 2 completed as its component. On the H4 time frame, the first counter-trend wave of lesser degree (i) of i of 3 has begun to form as a component of the third wave 3 of (5). The USD/CHF pair will continue to decline to 0.8724 to 0.8386 if the assumption is accurate. In this case, the level of 0.9201 is crucial. The pair will be able to continue rising to the levels of 0.9340 to 0.9530 after its breakout.
On the weekly chart, wave (5) of 5 is forming as part of the bearish fifth wave of bigger degree 5. On the daily chart, the ascending corrective appears to have formed as the second wave 2 of (5), with wave c of 2 completed as its component. On the H4 time frame, the first counter-trend wave of lesser degree (i) of i of 3 has begun to form as a component of the third wave 3 of (5). The USD/CHF pair will continue to decline to 0.8724 to 0.8386 if the assumption is accurate. In this case, the level of 0.9201 is crucial. The pair will be able to continue rising to the levels of 0.9340 to 0.9530 after its breakout.
- Main scenario : Take into account short positions with a goal of 148.50 to 138.65 from corrections below the level of 156.81. A sell signal occurs when the 156.81 level is broken downward. Take Profit: between 148.50 and 138.65; Stop Loss: above 157.30.
- Alternative scenario : The pair will be able to continue climbing to the levels of 161.96 – 165.50 if there is a breakout and consolidation above the 156.81 level. When the price stays above 156.81, it is a buy signal. Take Profit: 161.96 to 165.50, Stop Loss: below 156.00.
Principal Situation :
Take into account short positions with a target of 148.50 to 138.65 from corrections below the level of 156.81.
Different Situations :
The pair can continue to rise to the levels of 161.96 to 165.50 if there is a breakout and consolidation above the 156.81 level.
Take into account short positions with a target of 148.50 to 138.65 from corrections below the level of 156.81.
Different Situations :
The pair can continue to rise to the levels of 161.96 to 165.50 if there is a breakout and consolidation above the 156.81 level.
Analysis :
The daily time frame indicates that the bearish correction is still evolving as the fourth wave, wave (ΐ) of 4, with the ascending wave of bigger degree 3 apparently generated as its portion. With wave á of (Ò) produced as its component, the corrective wave (B) of 4 is apparently complete on the H4 chart. The H1 chart shows that wave (C) of 4 is apparently underway, with the formation of the first wave of smaller degree i of 1 of (C), the completion of the local correction as wave ii of 1 of (C), and the development of wave iii of 1 of (C). The USD/JPY exchange rate will continue to decline to the range of 148.50 to 138.65 if the assumption is accurate. In this case, the 156.81 level is crucial since a breakout would allow the pair to rise to the 161.96–165.50 levels.
The daily time frame indicates that the bearish correction is still evolving as the fourth wave, wave (ΐ) of 4, with the ascending wave of bigger degree 3 apparently generated as its portion. With wave á of (Ò) produced as its component, the corrective wave (B) of 4 is apparently complete on the H4 chart. The H1 chart shows that wave (C) of 4 is apparently underway, with the formation of the first wave of smaller degree i of 1 of (C), the completion of the local correction as wave ii of 1 of (C), and the development of wave iii of 1 of (C). The USD/JPY exchange rate will continue to decline to the range of 148.50 to 138.65 if the assumption is accurate. In this case, the 156.81 level is crucial since a breakout would allow the pair to rise to the 161.96–165.50 levels.
- Main scenario : Take into account long positions with a target of 1.4800 to 1.5200 from corrections over the level of 1.4255. When the price stays over 1.4255, it is a buy signal. Take Profit: 1.4800 to 1.5200; Stop Loss : below 1.4200.
- Alternative scenario : The pair can continue to drop to the levels of 1.3923–1.3426 if there is a breakout and consolidation below the 1.4255 level. A sell signal indicates that the price has broken below the 1.4255 mark. Take Profit: 1.3923–1.3426, Stop Loss: over 1.4300.
Principal Situation :
Examine long positions with a target of 1.4800 to 1.5200 from corrections above the level of 1.4255.
Different Situations :
The pair can continue to drop to the levels of 1.3923–1.3426 if there is a breakout and consolidation below the 1.4255 level.
Examine long positions with a target of 1.4800 to 1.5200 from corrections above the level of 1.4255.
Different Situations :
The pair can continue to drop to the levels of 1.3923–1.3426 if there is a breakout and consolidation below the 1.4255 level.
Analysis :
Wave (5) of 5 is forming as part of the ascending fifth wave of bigger degree 5, which is likely still building on the weekly chart. On the daily chart, wave iii of 3 is produced within the third wave of smaller degree 3 of (5), and wave iv of 3 is the result of a local corrective. The H4 chart appears to be generating wave v of 3. The USD/CAD pair will continue to rise to 1.4800 to 1.5200 if this estimate is accurate. In this case, the level of 1.4255 is crucial since a breach there would allow the pair to continue falling to the levels of 1.3923 and 1.3426.
Wave (5) of 5 is forming as part of the ascending fifth wave of bigger degree 5, which is likely still building on the weekly chart. On the daily chart, wave iii of 3 is produced within the third wave of smaller degree 3 of (5), and wave iv of 3 is the result of a local corrective. The H4 chart appears to be generating wave v of 3. The USD/CAD pair will continue to rise to 1.4800 to 1.5200 if this estimate is accurate. In this case, the level of 1.4255 is crucial since a breach there would allow the pair to continue falling to the levels of 1.3923 and 1.3426.
- Main scenario : Take into account long positions from corrections above 67.08 with an 85.00–94.97 goal. When the price stays above 67.08, it is a buy signal. Take Profit: 85.00 – 94.97, Stop Loss: below 66.50.
- Alternative scenario : The pair can continue to drop to the levels of 61.50 to 53.00 if there is a breakout and consolidation below the 67.08 level. A sell signal occurs when the 67.08 level is broken downward. Take Profit: 61.50 to 53.00, Stop Loss: over 67.50.
Principal Situation :
Think about taking long positions from corrections above 67.08 with an 85.00–94.97 goal.
Different Situations :
The asset can continue to decline to levels between 61.50 and 53.00 if there is a breakout and consolidation below the 67.08 mark.
Think about taking long positions from corrections above 67.08 with an 85.00–94.97 goal.
Different Situations :
The asset can continue to decline to levels between 61.50 and 53.00 if there is a breakout and consolidation below the 67.08 mark.
Analysis :
Wave B of (2) is developing as a component of the descending corrective, which seems to be continuing to build as the second wave of larger degree (2) on the weekly chart. On the daily time scale, wave b of B appears to have completed forming, whereas wave с of B is still ongoing. The first wave of lesser degree (i) of c unfolding is seen in the H4 time frame, during which the local corrective wave iv of (i) is most likely finished. WTI will continue to increase to levels between 85.00 and 94.97 if the assumption is accurate. In this case, the level of 67.08 is crucial since a breakout would allow the price to drop further, reaching levels of 61.50 to 53.00.
Wave B of (2) is developing as a component of the descending corrective, which seems to be continuing to build as the second wave of larger degree (2) on the weekly chart. On the daily time scale, wave b of B appears to have completed forming, whereas wave с of B is still ongoing. The first wave of lesser degree (i) of c unfolding is seen in the H4 time frame, during which the local corrective wave iv of (i) is most likely finished. WTI will continue to increase to levels between 85.00 and 94.97 if the assumption is accurate. In this case, the level of 67.08 is crucial since a breakout would allow the price to drop further, reaching levels of 61.50 to 53.00.
- Main scenario : Take into account long positions with a goal of 2880.00 to 3000.00 from corrections above the level of 2690.64. When the price stays over 2690.64, it is a buy signal. Take Profit: 2880.00 to 3000.00; Stop Loss: below 2670.00.
- Alternative scenario : The pair can continue to drop to the levels of 2464.30 to 2282.23 if there is a breakout and consolidation below the 2690.64 level. A sell signal occurs when the 2690.64 level is broken downward. Above 2705 is the stop loss; 2464.30 to 2282.23 is the take-profit.
Principal Situation :
Think about taking long positions from corrections above 2690.64 with a goal between 2880.00 and 3000.00.
Different Situations :
The pair can continue to drop to the levels of 2464.30 to 2282.23 if there is a breakout and consolidation below the 2690.64 level.
Think about taking long positions from corrections above 2690.64 with a goal between 2880.00 and 3000.00.
Different Situations :
The pair can continue to drop to the levels of 2464.30 to 2282.23 if there is a breakout and consolidation below the 2690.64 level.
Analysis :
The ascending fifth wave of bigger degree 5 is apparently emerging on the weekly chart, with wave (5) of 5 forming as its part. On the daily chart, wave iii of 3 is developing inside the third wave of smaller degree 3 of (5), which seems to be still forming. The H4 chart shows the ongoing development of wave (v) of iii. Should this forecast prove to be accurate, the XAU/USD pair will keep rising, reaching levels between 2880.00 and 3000.00. The level of 2690.64 is key in this scenario as a breakout will enable the pair to continue sliding to the levels of 2464.30 – 2282.23.
The ascending fifth wave of bigger degree 5 is apparently emerging on the weekly chart, with wave (5) of 5 forming as its part. On the daily chart, wave iii of 3 is developing inside the third wave of smaller degree 3 of (5), which seems to be still forming. The H4 chart shows the ongoing development of wave (v) of iii. Should this forecast prove to be accurate, the XAU/USD pair will keep rising, reaching levels between 2880.00 and 3000.00. The level of 2690.64 is key in this scenario as a breakout will enable the pair to continue sliding to the levels of 2464.30 – 2282.23.
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