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Elliot Wave Analysis by Solidecn.com

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XAUUSD Analysis

The gold price has broken through Friday’s high, and the price has been corrected since then. The market is now driving to the Additional Zone 1667 – 1666. The AZ is a strong support level, after the test of which, one could enter new purchases with a target at yesterday’s high.
 
If the AZ is broken out downside, the correction will continue down to the trend key support 1653 – 1650. After the key support test, I also recommend entering purchases with the target suggested above.
 
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  • Buy in Additional Zone 1667 - 1666 | Take Profit: 1681 | Stop Loss: according to the pattern rules.
  • Buy in Intermediary Zone 1653 - 1650 | Take Profit: 1681 |  Stop Loss: according to the pattern rules.
 
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US Crude Oil

Yesterday, the oil traders were testing the Additional Zone 90.2 – 90.01. The zone was held up, and the price reached the Gold Zone 92.88 – 92.51, the trend resistance. The oil traders also tried to break this zone upside, but failed.

The price is now trading in the correction and testing the new Additional Zone 91.03 – 90.85. The AZ is the strong support level, where one could enter new purchases according to the pattern with a target at yesterday’s high.

If the AZ is broken out, the correction will continue down to the Intermediary Zone 89.16 – 88.78.

oil.png

Buy Zone 91.03 - 90.85 | Take Profit: 92.88 | Stop Loss: according to the pattern rules.
Buy Intermediary Zone 89.16 - 88.78 | Take Profit: 92.88 | Stop Loss: according to the pattern rules.
 

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USDCAD - The price is in a correction and may grow.
 
On the daily chart, the upward fifth wave of the higher level 5 develops, within which the wave (1) of 5 formed, the correctional wave (2) of 5 ended, and the wave (3) of 5 develops. Now, the third wave of the lower level 3 of (3) has formed, and a local correction is ending as the fourth wave 4 of (3), within which the wave c of 4 is forming.
 
If the assumption is correct, after the end of the correction, the USDCAD pair will grow to the area of 1.43 – 1.45. In this scenario, critical stop loss level is 1.3206.
 
usdcad.png
 
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USDCHF - The pair is in a correction and may grow.

On the daily chart, the upward first wave of the higher level (1) of 3 forms, within which the wave 5 of (1) develops. Now, the third wave of the lower level iii of 5 has formed, a local correction is developing as the fourth wave iv of 5, within which the wave (c) of iv is ending. 
 
If the assumption is correct, after the end of the correction, the USDCHF pair will grow to the area of 1.02 – 1.03. In this scenario, critical stop loss level is 0.9738.
 
usdchf.png
 
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AUDUSD - A fall is possible.

On the daily chart, the first wave of the higher level (1) ended, and a downward correction develops as the second wave (2), within which the wave C of (2) develops. Now, the fifth wave of the lower level v of C is forming, the wave (iii) of v has formed, and a local correction has ended as the wave (iv) of v. 

If the assumption is correct, the AUDUSD pair will fall within the wave (v) of v to the area of 0.6157–0.6086. In this scenario, critical stop loss level is 0.6567.

audusd.png
 

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NZDUSD - Growth is possible.

On the daily chart, the upward wave of the higher level (А) formed, a downward correction ended as the wave (B), and the development of the wave (C) and the first entry wave of the lower level i of 1 of (C) started, within which the wave (i) of i has formed, a local correction has ended as the wave (ii) of i, and the wave (iii) of i is developing. 

If the assumption is correct, the NZDUSD pair will grow to the area of 0.6166–0.6465. In this scenario, critical stop loss level is 0.5731.

nzdusd.png
 

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USDJPY - The pair is in a correction, a fall is possible.

On the daily chart, the third wave of the higher level 3 ended, and the development of the downward correction started as the fourth wave 4. Now, the wave of the lower level a of 4 is developing, within which the fifth wave (v) of a is forming. 

If the assumption is correct, the USDJPY pair will fall to the area of 136.82–130.25. In this scenario, critical stop loss level is 151.76.

usdjpy.png
 

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EURUSD - Growth is possible.
 
On the daily chart, the downward wave of the higher level А ended, within which the fifth wave (5) of А formed, and the development of the upward wave B started. Now, the first entry wave 1 of (1) of B i developing, and the third wave of the lower level iii of 1 is forming. 
 
If the assumption is correct, the EURUSD pair will grow to the area of 1.0790–1.1196. In this scenario, critical stop loss level is 0.9932.
 
eurusd.png
 
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USDJPY - The price is in a correction, a fall is possible.

On the daily chart, the third wave of the higher level 3 ended, and a downward correction forms as the fourth wave 4. Now, the wave of the lower level a of 4 has formed, and a local correction is starting to form as the wave b of 4. 
 
If the assumption is correct, the USDJPY pair will fall to the area of 133.2 – 127.36. In this scenario, critical stop loss level is 146.67.
 
usdjpy.png
 
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XAGUSD - Growth is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), within which the wave C of (2) formed, and the development of the third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) has formed, within which the wave (v) of i has ended. 
 
If the assumption is correct, after the end of the local correction ii of 1 of (3), the XAGUSD pair will grow to the area of 23.7–25. In this scenario, critical stop loss level is 19.25.
 
silver.png
 
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AUDUSD - Growth is possible.
 
On the daily chart, the first wave of the higher level (1) formed, and a downward correction ended as the second wave (2), within which the wave C of (2) formed. Now, the development of the third wave (3) has started, and the first entry wave of the lower level i of 1 of (3) is forming. 
 
If the assumption is correct, the AUDUSD pair will grow to the area of 0.6916 – 0.7142. In this scenario, critical stop loss level is 0.6393.
 
audusd.png
 
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NZDUSD - Growth is possible.

On the daily chart, the upward wave of the higher level (А) formed, a downward correction ended as the wave (B), the wave (C) and the first entry wave of the lower level i of 1 of (C) develop, within which the wave (i) of i formed, a local correction ended as the wave (ii) of i and the wave (iii) of i develops. 

If the assumption is correct, the NZDUSD pair row to the area of 0.6465 – 0.6600. In this scenario, critical stop loss level is 0.5839

nzdusd.png
 

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USDCAD - The price is in a correction and may grow.

On the daily chart, the upward fifth wave of the higher level 5 develops, within which the wave (1) of 5 formed, the correctional wave (2) of 5 ended, and the wave (3) of 5 develops. Now, the third wave of the lower level 3 of (3) has formed, a correction has ended as the fourth wave 4 of (3), and the wave c of 4 has formed. 

The upward dynamics of the USDCAD pair to the area of 1.43 – 1.45 are expected. In this scenario, critical stop loss level is 1.3206.

usdcad.png
 

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XAUUSD - Growth is possible.

On the daily chart, a downward correction formed as the fourth wave of the higher level (4), within which the wave C of (4) formed as a momentum, and the development of the fifth wave (5) started. Now, the first entry wave of the lower level 1 of (5) is developing, within which the wave iii of 1 has formed. 

If the assumption is correct, after the end of the correction iv of 1, the XAUUSD pair will grow to the area of 1808.08–1881.56. In this scenario, critical stop loss level is 1700.25.

gold.png
 

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Crude Oil - A fall is possible.

On the daily chart, a downward correction forms as the second wave of the higher level 2, within which the wave c of 2 develops. Now, the third wave of the lower level (iii) of c has formed, a local correction has ended as the fourth wave (iv) c and the development of the fifth wave (v) of c has started. 

If the assumption is correct, the price of the asset will fall to the area of 77.50 – 62.55. In this scenario, critical stop loss level is 100.87.

oil.png
 

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Crude Oil - A fall is possible.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction develops as the second wave (2), within which the wave А of (2) forms. Now, the fifth wave of the lower level v of A is forming, within which the wave (iii) of v is developing. 

If the assumption is correct, the price of the asset will fall to the area of 67 – 52.25. In this scenario, critical stop loss level is 90.30.

oil.png
 

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XAGUSD - The asset is in a correction, a fall is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), within which the wave C of (2) formed, and the development of the third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) has formed, and the correctional wave ii of 1 of (3) is forming, within which the wave (a) of ii is forming. 

If the assumption is correct, the XAGUSD pair will fall to the area of 19.88 – 19.32. In this scenario, critical stop loss level is 22.22.

silver.png
 

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EURUSD - Growth is possible.

On the daily chart, the downward wave of the higher level А ended, within which the fifth wave (5) of А formed, and the development of the upward wave B started. Now, the first entry wave 1 of (1) of B is developing, and the third wave of the lower level iii of 1 is forming. 

If the assumption is correct, the EURUSD pair will grow to the area of 1.0790 – 1.1196. In this scenario, critical stop loss level is 1.0092.

eurusd.png
 

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GBPUSD - Growth is possible.

On the daily chart, the downward fifth wave of the higher level V of (V) ended, within which the wave (5) of V formed, and the development of the upward first wave (1) started. Now, the third wave of the lower level 3 of (1) is developing, and the wave iii of 3 is forming. 

If the assumption is correct, the GBPUSD pair will grow to the area of 1.2281 – 1.2590. In this scenario, critical stop loss level is 1.1326.

gbpusd.png
 

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USDCAD- Growth is possible.

On the daily chart, the fifth upward wave of the higher level 5 develops, within which the wave (3) of 5 develops. Now, the third wave of the lower level 3 of (3) has formed, a local correction has ended as the fourth wave 4 of (3), and the development of the wave 5 of (5) has started, within which the wave i of 5 is forming. 

If the assumption is correct, the USDCAD pair will grow to the area of 1.382 – 1.3978. In this scenario, critical stop loss level is 1.3222.

usdcad.png
 

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