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Forex Weekly Analyzing


Wave Analysis and Forecast.(weekly)

 From Date: 07.08.2020 To Date: 14.08.2020 (Weekly Update) 

Read wave analyses and forecasts for the main currency pairs for the next week in our traders’ blog.
  • The most popular currency pairs: EUR/USD, GBP/USD, USD/СAD, USD/JPY, USD/CHF, XAU/USD.
  • High-quality analyses provided by an independent wave analysis expert with many years of experience.
  • Signals and pivot points.


EUR/USD
The pair EUR/USD is likely to fall under correction. Estimated pivot point is at a level of 1.1920.

Main scenario: consider short positions from corrections below the level of 1.1920 with a target of 1.1695 – 1.1644.

Alternative scenario: breakout and consolidation above the level of 1.1920 will allow the pair to continue the rise up to the levels of 1.2050 – 1.2200.

Analysis: A descending correction of larger degree presumably finished developing on the daily time frame in the form of wave (2), and the third wave (3) started developing. On the H4 time frame, the first counter-trend wave 1 of (3) is forming, with wave iii of 1 presumably formed inside. Apparently, a downward correction is starting to form as the fourth wave  iv of 1 of (3) on the H1 time frame. If this assumption is correct, the pair may be expected to fall to the levels of 1.1695 – 1.1644. The level of 1.1920 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.2050 – 1.2200.

LiteForex: EUR/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: EUR/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: EUR/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020


GBP/USD
The pair GBP/USD is likely to fall into a correction. Estimated pivot point is at a level of 1.3185.

Main scenario: consider short positions from corrections below the level of 1.3185 with a target of 1.2953 – 1.2892.

Alternative scenario:  breakout and consolidation above the level of 1.3185 will allow the pair to continue rising to the levels of 1.3285 – 1.3515.

Analysis: Presumably the third wave of larger degree (3) continues developing on the daily time frame, with wave 3 of (3) forming inside. Presumably, the third wave of smaller degree iii of 3 of (3) is forming on  Apparently, a downward correction is starting to form as the fourth wave (iv) of iii on the H1 time frame. If this assumption is correct, the pair may be expected to fall to the levels of 1.2953 – 1.2892.  The level of 1.3185 is critical in this scenario as the breakout will enable the pair to continue rising to the levels of 1.3285 – 1.3515.

LiteForex: GBP/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: GBP/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: GBP/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

USD/CHF
USDCHF remains likely to correct and grow. Estimated pivot point is at a level of 0.9044.

Main scenario: consider long positions from corrections above the level of 0.9044 with a target of 0.9228 – 0.9335.

Alternative scenario: breakout and consolidation below the level of 0.9044 will allow the pair to continue declining to the levels of 0.8950 – 0.8800.

Analysis: The descending third wave of larger degree (3) presumably continues developing on the daily time frame, with wave 1 of (3) forming inside. On the H4 time frame, wave v of 1 is forming, with wave (iii) of v formed inside, presumably. Apparently, an ascending correction has started to form as the fourth wave (iv) of v on the H1 time frame. If this assumption is correct, the pair may be expected to rise to the levels of 0.9228 – 0.9335. The level of 0.9044 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 0.8950 – 0.8800.

LiteForex: USD/CHF: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: USD/CHF: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: USD/CHF: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

USD/JPY
USD/JPY remains likely to grow. Estimated pivot point is at a level of 104.17.

Main scenario: consider long positions from corrections above the level of 104.17 with a target of 107.50 – 108.13.  

Alternative scenario: breakout and consolidation below the level of 104.17 will allow the pair to continue declining to the levels of 103.50 – 102.50.

Analysis: On the daily time frame, apparently a descending correction of larger degree finished forming as wave B and wave С started developing, with wave 1 of (1) of C formed inside.  On the H4 time frame, a descending correction has formed as wave 2 of (1) in the form of double zigzag wxy, and the third wave 3 of (1) is starting to develop. Apparently, the first counter-trend wave of smaller degree (i) of i of 3 has formed on the H1 time frame, and a local correction has been completed in the form of wave (ii) of i of 3. If the presumption is correct, the pair may be expected to rise to the  levels of 107.50 – 108.13.  The level of 104.17 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 103.50 – 102.50.

LiteForex: USD/JPY: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: USD/JPY: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: USD/JPY: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020


USD/CAD
USD/CAD remains likely to grow. Estimated pivot point is at a level of 1.3232.

Main scenario: consider long positions from corrections above the level of 1.3232 with a target of 1.3565 – 1.3780.

Alternative scenario: breakout and consolidation below the level of 1.3232 will allow the pair to continue declining to the levels of 1.1.3100 – 1.3000.

Analysis: An ascending corrective wave of larger degree  (B) of 4 has finished developing on the daily time frame and wave (C) of 4 started forming. Presumably, the first wave 1 of (С) has finished developing and an ascending correction started forming as wave 2 of (C) on the H4 time frame. Apparently, wave a of 2 is developing on the H1 time frame, with wave (i) of a forming inside. If the presumption is correct, the pair will continue to rise to the levels of 1.3565 – 1.3780. The level of 1.3232 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 1.3100 – 1.3000.

LiteForex: USD/CAD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: USD/CAD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: USD/CAD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

XAU/USD
XAU/USD is likely to fall into a correction. Estimated pivot point is at a level of  2074.60.

Main scenario: consider short positions below the level of 2074.60 with a target of 2007.60 – 1967.22.

Alternative scenario: breakout and consolidation above the level of  2074.60 will allow the pair to continue rising to the levels of 2130.03 – 2200.00.

Analysis: The ascending third wave of larger degree (3) presumably continues developing on the daily time frame, with wave 5 of (3) forming inside.  Apparently, the third wave of smaller degree iii of 5 is forming on the H4 time frame, with wave (iii) of iii formed inside. Supposedly, a downward correction is starting to form as the fourth wave (iv) of iii on the H1 time frame. If this assumption is correct, the pair may be expected to fall to the levels of 2007.60 – 1967.22. The level of  2074.60 is critical in this scenario as the breakout will enable the pair to continue growing to the levels of 2130.03 – 2200.00.

LiteForex: XAU/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: XAU/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020

LiteForex: XAU/USD: Elliott wave analysis and forecast for 07/08/2020 – 14/08/2020



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