Elliot Wave Analysis by Solid ECN

[SOLIDECN]

XAUUSD - Growth is possible.​

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

If the assumption is correct, the XAUUSD pair will grow to the area of 1808.78–1861.3. In this scenario, critical stop loss level is 1616.73.

 

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McDonald’s - Growth is possible.​

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) formed, and a downward correction ended as the second wave 2 of (5), shaped as double triple w-x-y. Now, the development the third wave 3 of (5) has started, within which the first entry wave of the lower level (i) of i of 3 is developing.

If the assumption is correct, the asset will grow to the area of 280 – 295. In this scenario, critical stop loss level is 231.04.

 

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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 a downward correction started as the fourth wave 4. Now, the wave of the lower level a of 4 is developing, within which a local correction is ending as the wave (iv) of a.

If the assumption is correct, the USDJPY pair will fall to the area of 140.13 – 136.82. In this scenario, critical stop loss level is 151.76.

 

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Silver - 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) is forming, within which the wave (iii) of I has formed, a local correction has ended as the wave (iv) of i, and the wave (v) of I is developing.
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If the assumption is correct, the XAGUSD pair will grow to the area of 21.2 – 22.47. In this scenario, critical stop loss level is 18.22.

 

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PayPal - Growth is possible.​

On the daily chart, the upward wave of the higher level А formed, and a downward correction develops as the wave B. Now, the wave (А) of B has formed, and an upward correction of the lower level is developing as the wave (B) of B, within which the wave A of (B) has ended, and the wave B of (B) is ending.

If the assumption is correct, the asset will grow within the wave C of (B) to the area of 158.6 – 186.7. In this scenario, critical stop loss level is 67.4.

 

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Bank of America - The price is in a correction, 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 formed, and a local correction is ending to develop as the wave (B) of 2. Now, the wave C of (B) is developing.

If the assumption is correct, the price will fall to the area of 26.32 – 20.82. In this scenario, critical stop loss level is 42.27.

 

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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 forms as the second wave (2), within which the wave C of (2) develops. Now, the third wave of the lower level iii of C is developing, the wave (iii) of iii has formed, and a local correction has ended as the wave (iv) of iii.

If the assumption is correct, the AUDUSD pair will fall within the wave (v) of iii to the area of 0.6091–0.59. In this scenario, critical stop loss level is 0.6540.

 

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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 developing as the fourth wave 4 of (3).

If the assumption is correct, the USDCAD pair will grow to the area of 1.43 – 1.45. In this scenario, critical stop loss level is 1.3346.

 

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USDCHF - Growth is possible.​

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 is developing, within which a local correction has ended as the wave (iv) of iii, and the wave (v) of iii has started to develop.

If the assumption is correct, the USDCHF pair will grow to the area of 1.02 – 1.03. In this scenario, critical stop loss level is 0.984.

 

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American Express - Growth is possible.​

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 3 of (5) formed, a downward correction ended as the fourth wave 4 of (5), and the formation of the fifth wave 5 of (5) started. Now, the first entry wave of the lower level i of 5 is forming, within which the wave (i) of I is developing.

If the assumption is correct, the asset will grow to the area of 157.53–166.68. In this scenario, critical stop loss level is 129.89.

 

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Crude Oil - Growth is possible.​

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

If the assumption is correct, the asset will grow to the area of 110.40–119.65. In this scenario, critical stop loss level is 88.82.

 

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XAUUSD - A fall is possible.​

On the daily chart, a downward correction develops as the fourth wave of the higher level (4), within which the wave C of (4) forms as a momentum. Now, the fifth wave of the lower level v of C of (4) is developing, within which the wave (iii) of v is forming.

If the assumption is correct, the pair XAUUSD will fall to the area of 1570 – 1515.1. In this scenario, critical stop loss level is 1616.21.

 

[SOLIDECN]

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) is developing, within which the wave (iii) of i has formed, a local correction has ended as the wave (iv) of I, and the wave (v) of i is developing.

If the assumption is correct, the XAGUSD pair will grow to the area of 22.47–23.7. In this scenario, critical stop loss level is 18.81.

 

[SOLIDECN]

Crude Oil - Growth is possible.​

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

If the assumption is correct, the asset will grow to the area of 103.83 – 115.12. In this scenario, critical stop loss level is 82.2.

 

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EURUSD - A fall is possible.​

On the daily chart, the downward fifth wave of the higher level (5) of А develops, within which the wave 5 of (5) develops. Now, a correction ended as the fourth wave of the lower level iv of 5, and the fifth wave v of 5 is forming, within which a local correction is ending as the wave (ii) of v.

If the assumption is correct, the EURUSD pair will fall to the area of 0.9470–0.9300. In this scenario, critical stop loss level is 1.0101.

 

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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. Now, the development of the upward first wave (1) has started, and the third wave of the lower level 3 of (1) 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 1.0920.

 

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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.

Buy in Additional Zone 1667 - 1666 | Take Profit: 1681 | Stop Loss: according to the pattern rules.
Buy in Intermediary Zone 1653 - 1650 | TakeProfit: 1681 | 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.

 

[SOLIDECN]

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.

 

[SOLIDECN]

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.​