liteforex

July 21, 2023, 11:35

XAUUSD: Elliott wave analysis and forecast for 21.07.23 – 28.07.23

Main scenario: consider long positions from corrections above the level of 1945.51 with a target of 2022.28 – 2059.86.

Alternative scenario: breakout and consolidation below the level of 1945.51 will allow the pair to continue declining to the levels of 1887.50 – 1836.74.

Analysis: on the daily chart, a downside correction presumably finished developing as the fourth wave of larger degree (4), and the fifth wave (5) is forming. Apparently, the first wave 1 of (5) is formed and a bearish correction is completed as second wave 2 of (5) on the H4 chart. Presumably the third wave 3 of... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/xauusd-elliott-wave-analysis-and-forecast-for-210723-280723/

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liteforex

July 21, 2023, 9:36

EURUSD: Elliott wave analysis and forecast for 21.07.23 – 28.07.23

Main scenario: consider long positions above the level of 1.1011 with a target of 1.1480 – 1.1700 once a correction formed.

Alternative scenario: breakout and consolidation below the level of 1.1011 will allow the pair to continue declining to the levels of 1.0827 – 1.0630.

Analysis: a bearish wave of larger degree A is presumably completed on the daily chart. A bullish wave B started unfolding, with the first counter-trend wave 1 of (A) of B formed as its part. A correction appears to have formed as the second wave 2 of (A) of B on the H4 chart, and... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/eurusd-elliott-wave-analysis-and-forecast-for-210723-280723/

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liteforex

July 21, 2023, 9:01

USDCHF: Elliott wave analysis and forecast for 21.07.23 – 28.07.23

Main scenario: consider short positions from corrections below the level of 0.8800 with a target of 0.8400 – 0.8250 once a correction is completed. 

Alternative scenario: breakout and consolidation above the level of 0.8800 will allow the pair to continue rising to the levels of 0.9007 – 0.9145.

Analysis: an ascending correction of larger degree is formed as the fourth wave (4) on the daily chart. A bearish fifth wave (5) is unfolding. On H4 time frame chart, presumably the third wave of smaller degree 3 of (5) is developing, with the wave iii of 3 forming inside. Wave (iii)... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/usdchf-elliott-wave-analysis-and-forecast-for-210723-280723/

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liteforex

July 21, 2023, 8:44

USDCAD: Elliott wave analysis and forecast for 21.07.23 – 28.07.23

Main scenario: consider short positions from corrections below the level of 1.3245 with a target of 1.2778 – 1.2600. 

Alternative scenario: breakout and consolidation above the level of 1.3245 will allow the pair to continue rising to the levels of 1.3400 – 1.3665.

Analysis: wave (В) of 4 is presumably completed on the daily chart. Wave (С) of 4 is unfolding, with wave 3 of (C) continuing forming as its part. The third wave of smaller degree iii of 3 is developing on the H4 chart, with wave (i) of iii formed inside. On the H1 time frame chart, a... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/usdcad-elliott-wave-analysis-and-forecast-for-210723-280723/

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liteforex

July 21, 2023, 7:40

Euro got rid of emotions. Forecast as of 21.07.2023

The market often acts irrationally, as investors are also affected by emotions. However, sooner or later, they begin to act logically. Then it becomes clear that the EURUSD rally was too fast. Let's discuss this topic and make up a trading plan.

Weekly Euro fundamental forecast

After the end of the sentimental part of the EURUSD rally, investors are stuck to fundamentals as they need rational data. It is not easy to find the necessary arguments during the stagnation of the eurozone economy and the impending end of the ECB's monetary tightening cycle. As a result, a EURUSD correction will soon begin, while... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/euro-got-rid-of-emotions-forecast-as-of-21072023/

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liteforex

July 17, 2023, 11:22

Franc took advantage of the situation. Forecast as of 17.07.2023

The USDCHF's fall to the lowest levels since 2015 made the market remember the time when the SNB decided to abandon the franc/euro peg, and the Swissie surprised everyone. It is doing it again but for another reason. Let's discuss it and make a trading plan.

Monthly fundamental forecast for franc

Low-profit assets benefited the most from the USD depreciation amid US inflationary slowdown. Gold and the yen grew rapidly, and the USDCHF reached its lowest since early 2015 when the Swiss Bank scrapped its currency peg of 1.2 to the euro. Back then, the Swissie was the best performer... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/franc-took-advantage-of-the-situation-forecast-as-of-17072023/

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liteforex

July 17, 2023, 8:43

Economic calendar for the week 17.07.2023 – 23.07.2023

Despite the correction at the end of last week, the DXY dollar index fell significantly by about 2.3%.

Market participants focused on US inflation data released last Wednesday. According to it, consumer inflation in the US fell to 3.0% in June (which is lower than the forecast of 3.1% and the previous value of 4.0%). This was the 12th consecutive monthly slowdown in US inflation since it hit a 40-year high of 9.1% in June 2022.

While inflation is still above the Fed's 2% target, it is expected to slow steadily, according to the data. Expectations of a 0.25% increase... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/economic-calendar-for-the-week-17072023-23072023/

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liteforex

July 17, 2023, 8:34

Economic calendar for the week 17.07.2023 – 23.07.2023

 

Despite the correction at the end of last week, the DXY dollar index fell significantly by about 2.3%.

Market participants focused on US inflation data released last Wednesday. According to it, consumer inflation in the US fell to 3.0% in June (which is lower than the forecast of 3.1% and the previous value of 4.0%). This was the 12th consecutive monthly slowdown in US inflation since it hit a 40-year high of 9.1% in June 2022.

While inflation is still above the Fed's 2% target, it is expected to slow steadily, according to the data. Expectations of a 0.25%... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/economic-calendar-for-the-week-17072023-23072023/

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liteforex

July 17, 2023, 8:23

Euro will act rationally. Forecast as of 17.07.2023

After the storm comes the calm. With an almost empty economic calendar, markets can pause. We need to rethink what happened. Has EURUSD grown too high? Let's discuss this topic and make up a trading plan.

Weekly Euro fundamental forecast

The market's euphoria, which drove up the US stock indices, caused the biggest USD sell-offs in the last eight months. In the week ended July 14, the USD index lost 2.2% (the worst performance since November). After the release of US inflation data, the market was extremely emotional. However, sooner or later, the moment comes when you need to act rationally. Did the S&P 500 and EURUSD... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/euro-will-act-rationally-forecast-as-of-17072023/

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liteforex

July 17, 2023, 7:08

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.07.2023

I welcome my readers!

I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.



Elliott wave Bitcoin analysis



The ascending impulse wave C is currently unfolding inside the actionary wave (Y). The first three parts of wave C have been completed. Correction [4] is under construction right now. It will take the shape of the double three (W)-(X)-(Y). Shortly expect the development of the actionary wave (Y). It will end at the low of 29919.61 as a standard zigzag.

Trading plan for BTCUSD today:

Sell 30280.59,... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/short-term-forecast-for-btcusd-xrpusd-and-ethusd-17072023/

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