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Forex Weekly Analyzing


Wave Analysis and Forecast.(weekly)

 From Date: 25.06.2021 To Date: 02.07.2021 (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 1.2032 with a target of 1.1600 – 1.1489.

Alternative scenario: breakout and consolidation above the level of 1.2032 will allow the pair to continue rising to the levels of 1.2500 – 1.2600.

Analysis: Presumably, the first wave of larger degree 1 of (3) formed, and a downside correction is forming as wave 2 of (3) in the daily timeframe. Apparently, wave a of 2 and an ascending wave b of 2 formed in the H4 time frame. A descending wave c of 2 is developing in the H1 time frame, with the third wave of a smaller degree (iii) of c developing inside. If the presumption is correct, the pair will continue to drop to the levels of 1.1600 – 1.1489. The level of 1.2032 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 1.4021 with a target of 1.3660 – 1.3572.

Alternative scenario: breakout and consolidation above the level of 1.4021 will allow the pair to continue rising to the levels of 1.4253 – 1.4450.

Analysis: Presumably, the first wave of a larger degree (1) finished developing, with wave 5 of (1) formed inside, in the daily timeframe. A descending correction started developing as wave (2) in the H4 time frame, with waves A of (2) and B of (2) formed inside. Apparently, the descending wave С of (2) continues developing in the H1 time frame, where the corrective wave of a smaller degree iv of C completed, and wave v of C started developing. If this assumption is correct, the pair will continue to fall to 1.3660 – 1.3572. The level of 1.4021 is critical in this scenario as the breakout will enable the pair to continue rising to the levels of 1.4253 – 1.4450.




USD/CHF
Main scenario: consider long positions from corrections above the level of 0.9045 with a target of 0.9476 – 0.9678.

Alternative scenario: breakout and consolidation below the level of 0.9045 will allow the pair to continue declining to the levels of 0.8923 – 0.8754.

Analysis: Presumably, a descending first wave of a larger degree (1) of 5 formed and an ascending correction is now developing as a second wave (2) of 5 in the daily timeframe. In the H4 time frame, wave A of (2) was formed and wave B of (2) finished developing. Apparently, wave С of (2) started developing in the H1 time frame, with the first wave of smaller degree i of C forming inside. If this assumption is correct, the pair will continue rising to the zone of 0.9476 – 0.9678. The level of 0.9045 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 0.8923 – 0.8754.




USD/JPY
Main scenario: consider long positions from corrections above the level of 109.16 with a target of 112.00 – 113.50.

Alternative scenario: breakout and consolidation below the level of 109.16 will allow the pair to continue declining to the levels of 106.75 – 105.80.

Analysis: Presumably, a descending correction of a larger degree finished forming as wave B, and wave С started developing, with the first wave (1) of С forming inside. In the H4 timeframe, there is forming the third wave of a smaller degree 3 of (1), with wave i of 3 formed, a downside correction completed as wave ii of 3, and wave iii of 3 developing inside. Apparently, wave (iii) of iii is forming in the H1 time frame. If this assumption is correct, the pair will continue to rise to 112.00 – 113.50. The level of 109.16 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 106.75 – 105.80.





USD/CAD
Main scenario: consider short positions below the level of 1.2712 with a target of 1.1850 – 1.1700 once the correction is completed.

Alternative scenario: breakout and consolidation above the level of 1.2712 will allow the pair to continue rising to the levels of 1.2873 – 1.3405.

Analysis: Wave (С) of 4 of a larger degree continues developing in the daily timeframe, with the third wave 3 of (C) formed inside. The fifth wave v of 3 finished forming in the H4 time frame, with wave (v) of v completed inside. In the H1 time frame, a descending correction appears to be forming as the fourth wave 4 of (C), with wave a of 4 completed and wave b of 4 developing within. If the presumption is correct, the pair will continue to fall to the levels of 1.1850 – 1.1700 once the correction is over. The level of 1.2712 is critical in this scenario as a breakout will enable the pair to continue rising to the levels of 1.2873 – 1.3405.




XAU/USD
Main scenario: long positions will be relevant above the level of 1674.46 with a target of 1958.14 – 2016.10 after correction.

Alternative scenario: breakout and consolidation below the level of 1674.46 will allow the pair to continue declining to the levels of 1568.91 – 1447.92.

Analysis: an ascending third wave of a larger degree (3) formed in the daily time frame, and a descending correction developed as wave (4), supposedly. The fifth wave (5) appears to be forming in the H4 time frame, with the first wave of smaller degree 1 of (5) formed and the downward correction 2 of (5) developing inside. In the H1 time frame, there is developing wave с of 2, with the fifth wave (v) of с unfolding inside. If the presumption is correct, the pair will continue to rise to the levels of 1958.14 – 2016.10 after the correction finishes. The level of 1674.46 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 1568.91 – 1447.92.


LiteForex: XAUUSD: Elliott wave analysis and forecast for 25.06.21 – 02.07.21 | LiteForex




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