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Forex Weekly Analyzing


Wave Analysis and Forecast.(weekly)

 From Date: 04.09.2020 To Date: 11.09.2020 (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
EUR/USD remains likely to grow. Estimated pivot point is at a level of 1.1760.

Main scenario: consider long positions from corrections above the level of 1.1760 with a target of 1.2100 – 1.2200.

Alternative scenario: breakout and consolidation below the level of 1.1760 will allow the pair to continue declining to the levels of 1.1642 – 1.1472.

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 as an impulse, with a local correction presumably formed inside as the fourth wave iv of 1. Apparently, the fifth wave v of 1 started developing on the H1 time frame, with a corrective wave (ii) of v formed inside. If the presumption is correct, the pair will continue to rise to the levels 1.2100 – 1.2200. The level of 1.1760 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 1.1642 – 1.1472 in wave iv of 1.
LiteForex: EUR/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: EUR/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: EUR/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020


GBP/USD
GBP/USD remains likely to grow. Estimated pivot point is at a level of 1.3050.

Main scenario: consider long positions from corrections above the level of 1.3050 with a target of 1.3500 – 1.3600.

Alternative scenario: breakout and consolidation below the level of 1.3050 will allow the pair to continue declining to the levels of 1.2879 – 1.2755.

Analysis: Presumably, the third wave of larger degree (3) continues developing on the daily time frame, with wave 3 of (3) forming inside. On the H4 time frame, a local correction has formed as the fourth wave iv of 3, and wave v of 3 is forming. Apparently, the third wave of smaller degree  (iii) of v of 3 has formed and a correction finished developing in the form of wave (iv) of v of 3 on the H1 time frame.  If the presumption is correct, the pair will continue to rise to the levels 1.3500 – 1.3600. The level of 1.3050 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 1.2879 – 1.2755.
LiteForex: GBP/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: GBP/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: GBP/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

USD/CHF
USD/CHF remains likely to grow. Estimated pivot point is at a level of 0.8994.

Main scenario: consider long positions from corrections above the level of 0.8994 with a target of 0.9242 – 0.9302.

Alternative scenario: breakout and consolidation below the level of 0.8994 will allow the pair to continue declining to the levels of 0.8900 – 0.8800.

Analysis: Presumably, the descending third wave of larger degree (3) 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. Apparently, on the H1 time frame there is a local correction forming as wave of smaller degree (iv) of v . If this assumption is correct, the pair will continue to rise to the levels of 0.9242 – 0.9302. The level of 0.8994 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 0.8900 – 0.8800.
LiteForex: USD/CHF: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: USD/CHF: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: USD/CHF: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

USD/JPY
USD/JPY remains likely to fall. Estimated pivot point is at a level of 107.06.

Main scenario: consider short positions from corrections below the level of 107.06 with a target of 104.19 – 103.30.

Alternative scenario: breakout and consolidation above the level of 107.06 will allow the pair to continue rising to the levels of 108.14 – 109.85.

Analysis: On the daily time frame, apparently a descending correction of larger degree finished forming as wave B, and wave С started developing, with the first wave 1 of (1) of C formed inside. On the H4 time frame, a descending correction continues forming as wave 2 of (1), with wave c of 2 developing inside. Apparently, the fifth wave of smaller degree (v) of c is developing on the H1 time frame.  If this assumption is correct, the pair will continue to fall to 104.19 – 103.30. The level of 107.06 is critical in this scenario as the breakout will enable the pair to continue growing to the levels of 108.14 – 109.85.
LiteForex: USD/JPY: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: USD/JPY: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: USD/JPY: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020


USD/CAD
USD/CAD remains likely to fall. Estimated pivot point is at a level of 1.3242.

Main scenario: consider short positions from corrections below the level of 1.3242 with a target of 1.2900 – 1.2800.

Alternative scenario: breakout and consolidation above the level of 1.3242 will allow the pair to continue rising to the levels of 1.3565 – 1.3780.

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 (C) continues developing on the H4 time frame, with wave v of 1 forming inside. Apparently, the fifth wave of smaller degree (v) of v of 1 is developing on the H1 time frame. If the presumption is correct, the pair may be expected to continue falling to the levels of 1.2900 – 1.2800. The level of 1.3242 is critical in this scenario as the breakout will enable the pair to continue rising to the levels of 1.3565 – 1.3780.
LiteForex: USD/CAD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: USD/CAD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: USD/CAD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

XAU/USD
XAU/USD remains likely to grow. Estimated pivot point is at a level of 1902.82.

Main scenario: consider long positions from corrections above the level of 1902.82 with a target of 2130.03 – 2200.00.

Alternative scenario: breakout and consolidation below the level of 1902.82 will allow the pair to continue declining to the levels of 1862.02 – 1822.71.

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 has formed on the H4 time frame, and presumably, a local correction finished developing in the form of wave iv of 5. The fifth wave v of 5 is starting to develop on the H1 time frame, with wave (ii) of v nearing completion inside. If the presumption is correct, the price will continue to rise to the levels of 2130.03 – 2200.00. The level of 1902.82 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 1862.02 – 1822.71.
LiteForex: XAU/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: XAU/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020

LiteForex: XAU/USD: Elliott wave analysis and forecast for 04/09/2020 – 11/09/2020



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