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Forex Weekly Analyzing


Wave Analysis and Forecast.(weekly)

 From Date: 30.04.2021 To Date: 07.05.2021 (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
Main scenario: consider short positions from corrections below the level of 1.2342 with a target of 1.1600 – 1.1489 once a correction is completed.

Alternative scenario: breakout and consolidation above the level of 1.2342 will allow the pair to continue rising to the levels of 1.2500 – 1.2600.

Analysis: Daily time frame: presumably, the first wave of larger degree 1 of (3) formed, and a downside correction is forming as wave 2 of (3). Apparently, wave a of 2 formed and ascending wave b of 2 is developing on the H4 time frame. Supposedly, wave of smaller degree (a) of b formed on the H1 time frame. If this assumption is correct, the pair may be expected to continue falling to the levels of 1.1600 – 1.1489 once wave (b) of 2 is completed. The level of 1.2342 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.2500 – 1.2600.




GBP/USD
Main scenario: consider short positions from corrections below the level of 1.4237 with a target of 1.3572 – 1.3158 once a correction is completed.

Alternative scenario: breakout and consolidation above the level of 1.4237 will allow the pair to continue rising to the levels of 1.4450 – 1.4700.

Analysis: Daily time frame: presumably, the first wave of larger degree (1) finished developing, with wave 5 of (1) formed inside. A descending correction started developing as wave (2) on the H4 time frame, with wave A of (2) formed inside. Apparently, wave B of (2) is developing on the H1 time frame, with wave a of B formed and wave b of B developing inside. If this assumption is correct, the pair will continue to fall to 1.3572 – 1.3158 after corrective wave B of (2) is completed. The level of 1.4237 is critical in this scenario, as the breakout will enable the pair to continue rising to the levels of 1.4450 – 1.4700.




USD/CHF
Main scenario: consider long positions above the level of 0.9072 with a target of 0.9505 – 0.9590.

Alternative scenario: breakout and consolidation below the level of 0.9072 will allow the pair to continue declining to the levels of 0.8873 – 0.8768.

Analysis: Presumably, a descending first wave of larger degree (1) of 5 finished developing on the daily time frame, with wave 5 of (1) formed inside. An ascending correction started developing as wave (2) on the H4 time frame, with wave A of (2) forming inside. The third wave of smaller degree iii of А appears to have formed on the H1 time frame, and a local correction is nearing completion as wave iv of A, supposedly. If this assumption is correct, the pair will continue rising to 0.9505 – 0.9590 in wave v of A after the correction ends. The level of 0.9072 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 0.8873 – 0.8768.




USD/JPY
Main scenario: consider short positions from corrections below the level of 109.62 with a target of 106.75 – 105.77.

Alternative scenario: breakout and consolidation above the level of 109.62 will allow the pair to continue rising to the levels of 110.95 – 112.50.

Analysis: Daily TM: apparently, a descending correction of larger degree finished forming as wave B, and wave С started developing, with the first wave (1) of С forming inside.

On the H4 time frame, the third wave of smaller degree 3 of (1) is developing, with wave i of 3 formed inside. Apparently, a descending correction is developing as wave ii of 3 on the H1 time frame, with wave (a) of ii formed and wave (b) of ii developing inside. If the presumption is correct, the pair will continue to drop to the levels of 106.75 – 105.77 after wave (b) of ii is completed. The level of 109.62 is critical in this scenario as the breakout will enable the pair to continue growing to the levels of 110.95 – 112.50.





USD/CAD
Main scenario: consider short positions from corrections below the level of 1.2652 with a target of 1.2150 – 1.2000.

Alternative scenario: breakout and consolidation above the level of 1.2652 will allow the pair to continue rising to the levels of 1.2857 – 1.2989.

Analysis: wave (С) of 4 of larger degree continues developing on the daily time frame, with the third wave 3 of (C) forming inside. The fifth wave v of 3 is forming on the H4 time frame, with wave (v) of v of smaller degree developing inside. Apparently, the third wave iii of (v) is developing on the H1 time frame. If this assumption is correct, the pair will continue to fall to 1.2150 – 1.2000. The level of 1.2652 is critical in this scenario, as the breakout will enable the pair to continue rising to the levels of 1.2857 – 1.2989.




XAU/USD
Main scenario: consider long positions from corrections above the level of 1751.35 with a target of 1817.95 – 1851.32.

Alternative scenario: breakout and consolidation below the level of 1751.35 will allow the pair to continue declining to the levels of 1722.72 – 1675.55.

Analysis: an ascending third wave of larger degree (3) formed on the daily time frame, and a descending correction developed as wave (4), supposedly. H4 time frame: apparently, the fifth wave (5) started forming, with the first wave of smaller degree 1 of (5) forming inside. Apparently, the third wave iii of 1 finished forming, and a corrective wave iv of 1 of (5) is nearing completion on the H1 time frame. If the presumption is correct, the pair will continue to rise to the levels of 1817.95 – 1851.32 once the correction is over. The level of 1751.35 is critical in this scenario as its breakout will enable the pair to continue declining to the levels of 1722.72 – 1675.55.





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