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2023-07-03 14:13:12 Economic calendar for the week 03.07.2023 – 09.07.2023

Review of the main events of the Forex economic calendar for the next trading week (03.07.2023 – 09.07.2023)

The dollar strengthened following the results of the past week, and its index grew slightly (by about 10 points), consolidating in the zone above 102.00.

The dollar received support both from positive macro statistics that came last week from the United States, and from statements by the Fed Chairman Jerome Powell at the ECB forum, where he once again confirmed the inclination of the US Central Bank to propose a tight monetary policy, hinting at at least 2 more interest rate hikes... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3raQpNh Open / Comment

2023-07-03 13:56:11 Yen climbs escalation ladder. Forecast as of 03.07.2023

When the Japanese government and central bank actively use verbal interventions, they could move on to FX interventions as well. Where will the USDJPY go?

Monthly Japanese yen fundamental forecast

The lower the yen goes, the more nervous are the USDJPY sellers. When the price reached the psychologically important level of 145, it was corrected up. It is not clear whether the Bank of Japan had a hand in it. On the one hand, the trading volume was small. On the other hand, Westpac believes that the official Tokyo will choose a small-scale currency intervention to keep Forex on its toes.... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3JGJBgt Open / Comment

2023-07-03 10:46:12 Short-term analysis for oil, gold, and EURUSD for 03.07.2023

I welcome my fellow traders! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.

The EURUSD short-term uptrend continues.



Oil price forecast for today: USCrude analysis

The oil price is trading flat in the range of 74.30 – 66.95. Last week, the price was corrected up to resistance (В) 71.91 – 71.48. One could enter sell trades according to the pattern today. The target is the low of June 28.

If resistance (B) is broken... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3puozLn Open / Comment

2023-07-03 10:22:12 Euro rides a roller coaster. Forecast as of 03.07.2023

Closing of the EURUSD speculative positions at the end of the month and quarter affected the pair trend. Let us discuss the Forex outlook and make up a trading plan.

Weekly Euro fundamental forecast

As the central banks’ monetary policies depend on the incoming data, the EURUSD is jumping up and down following the reports on the US and euro-area inflation. Both fell short of Bloomberg experts' forecasts. As a result, the main currency pair first collapsed to the first of the two targets set in the previous analytics and then soared above 1.09. It's only the beginning!

The euro drop in... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/434F6Dj Open / Comment

2023-07-03 09:43:11 Short-term forecast for BTCUSD, XRPUSD and ETHUSD 03.07.2023

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 BTCUSD continues forming an ascending impulse C that should conclude the motive wave (Y) of a larger degree. Wave C is composed of sub-waves [1]-[2]-[3]-[4]-[5], four of which have been completed. Wave [5] is currently developing as an impulse (1)-(2)-(3)-(4)-(5) that should finish at a level of 32600.00.

Trading plan for BTCUSD today:

Buy  30716.02, Take profit: 32600.00


Elliott Wave Ripple analysis



The XRPUSD must be forming... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/445wKwA Open / Comment

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Become a LiteFinance affiliate if you are not... Read more https://www.litefinance.org/company/detail/news/102460/ Open / Comment

2023-06-30 15:07:44 XAUUSD: Elliott wave analysis and forecast for 30.06.23 – 07.07.23

Main scenario: consider short positions from corrections below the level of 1937.93 with a target of 1836.74 – 1782.50.

Alternative scenario: breakdown and consolidation above the level of 1937.93 will allow the pair to continue the rise up to the levels of 1973.80 – 2022.28.

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 of smaller degree 1 of (5) is formed on the H4 chart, and a local correction is developing as the second wave 2 of (5).... 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-300623-070723/ Open / Comment

2023-06-30 14:31:24 WTI Crude Oil: Elliott wave analysis and forecast for 30.06.2023 – 07.07.2023

Main scenario: consider short positions from corrections below the level of 72.55 with a target of 61.65 – 54.50.

Alternative scenario: breakout and consolidation above the level of 72.55 will allow the asset to continue rising to the levels of 77.00 – 84.00.

Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a bearish correction continues developing as second wave (2). Wave С of (2) is developing on the H4 chart, with wave i of C of (2) completed as its part. A correction is completed as wave ii of C of (2).... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/wti-crude-oil-elliott-wave-analysis-and-forecast-for-30062023-07072023/ Open / Comment

2023-06-30 14:01:24 USDJPY: Elliott wave analysis and forecast for 30.06.23 – 07.07.23

Main scenario: consider long positions from corrections above the level of 142.97 with a target of 146.00 – 148.00.

Alternative scenario: breakout and consolidation below the level of 142.97 will allow the pair to continue declining to the levels of 141.21 – 138.70.

Analysis: daily chart: an ascending third wave of larger degree (3) is formed, a descending correction developed as the fourth wave (4), and the fifth wave (5) started unfolding. Wave 3 of (5) continues presumably developing on the H4 chart, with the third wave of smaller degree iii of 3 forming inside. Apparently, the fifth wave (v)... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/usdjpy-elliott-wave-analysis-and-forecast-for-300623-070723/ Open / Comment

2023-06-30 13:33:24 Golden disaster canceled. Forecast as of 30.06.2023

Since gold is traditionally considered a forerunner of an apocalypse, its 2023 rally convinced investors of an approaching recession. However, something went wrong. Let's find out more about it and make a trading plan for gold.

Monthly fundamental forecast for gold

The one who doesn’t make mistakes doesn’t work. In 2022, financial markets were casting stones at the Fed for its wrong predictions of a temporary nature of the high inflation, but in 2023 they only can blame themselves. Neither the yield curve nor gold prices could correctly predict a recession, even if these indicators usually signal a very poor... Read full author’s opinion and review in blog of #LiteFinance https://www.litefinance.org/blog/analysts-opinions/golden-disaster-canceled-forecast-as-of-30062023/ Open / Comment