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Forex Weekly Analyzing


Wave Analysis and Forecast.(weekly)

 From Date: 05.03.2021 To Date: 12.03.2021 (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 1.2115 with a target of 1.1691 – 1.1489.

Alternative scenario: breakout and consolidation above the level of 1.2115 will allow the pair to continue rising to the levels of 1.2347 – 1.2500.

Analysis: Presumably, the first wave of larger degree 1 of (3) finished developing on the daily time frame, with wave v of 1 formed inside. Apparently, a downside correction is developing as wave 2 of (3) on the H4 time frame, with wave a of 2 formed inside. On the H1 time frame, apparently, wave b of 2 finished developing, and wave c of 2 is forming, with wave (iii) of 3 developing inside. If the presumption is correct, the pair will continue to drop to the levels of 1.1691 – 1.1489. The level of 1.2115 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.2347 – 1.2500.




GBP/USD
Main scenario: consider short positions from corrections below the level of 1.4022 with a target of 1.3552 – 1.3158.

Alternative scenario: breakout and consolidation above the level of 1.4022 will allow the pair to continue rising to the levels of 1.4235 – 1.4400.

Analysis: Daily time frame: presumably, the first wave of larger degree (1) finished developing, with wave 5 of (1) formed inside. A downward correction started developing as wave (2) on the H4 time frame, with wave A of (2) forming inside. Apparently, the first counter-trend wave of smaller degree i of A formed and correction developed as wave ii of A on the H1 time frame. If this assumption is correct, the pair will continue to fall to the levels of 1.3552 – 1.3158. The level of 1.4022 is critical in this scenario, as the breakout will enable the pair to continue rising to the levels of 1.4235 – 1.4400.




USD/CHF
Main scenario: consider long positions from corrections above the level of 0.9042 with a target of 0.9508 – 0.9681.

Alternative scenario: breakout and consolidation below the level of 0.9042 will allow the pair to continue declining to the levels of 0.8871 – 0.8760.

Analysis: Presumably, the 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 be developing on the H1 time frame, with wave (iii) of iii of A forming inside. If this assumption is correct, the pair will continue to rise to 0.9508 – 0.9681. The level of 0.9042 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 0.8871 – 0.8760.




USD/JPY
Main scenario: consider long positions from corrections above the level of 104.93 with a target of 109.83 – 111.72.

Alternative scenario: breakout and consolidation below the level of 104.93 will allow the pair to continue declining to the levels of 104.00 – 102.60.

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) continues developing, with wave i of 3 formed and local correction ii of 3 completed inside. Apparently, wave iii of 3 is developing on the H1 time frame. If this assumption is correct, the pair will continue to rise to 109.83 – 111.72. The level of 104.93 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 104.00 – 102.60.





USD/CAD
Main scenario: consider long positions from corrections above the level of 1.2474 with a target of 1.2989 – 1.3308.

Alternative scenario: breakout and consolidation below the level of 1.2474 will allow the pair to continue declining to the levels of 1.2400 – 1.2300.

Analysis: Daily time frame: wave (С) of 4 of larger degree continues developing, with the first wave 1 of (C) formed inside. Presumably, an ascending correction started developing as wave 2 of (C) on the H4 time frame, with wave a of 2 forming inside. The first counter-trend wave of smaller degree (i) of a appears to have formed on the H1 time frame, and a local correction is completed in the form of wave (ii) of a. If the presumption is correct, the pair will continue to rise to the levels of 1.2989 – 1.3308. The level of 1.2474 is critical in this scenario as its breakout will enable the pair to continue declining to the levels of 1.2400 – 1.2300.




XAU/USD
Main scenario: consider short positions from corrections below the level of 1816.13 with a target of 1620.09 – 1508.60.

Alternative scenario: breakout and consolidation above the level of 1816.13 will allow the pair to continue rising to the levels of 1876.54 – 1960.41

Analysis: Daily time frame: presumably, the ascending third wave of larger degree (3) formed, and a descending correction continues developing as wave (4). Apparently, wave C of (4) is developing on the 4H time frame, with wave iii of C forming inside. Wave of smaller degree (v) of iii is nearing completion on the H1 time frame. If the presumption is correct, the pair will continue falling to 1620.09 – 1508.60. The level of 1816.13 is critical in this scenario as the breakout will enable the pair to continue growing to the levels 1876.54 – 1960.41





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