LiteFinance

2023-05-12 14:42:34 XAUUSD: Elliott wave analysis and forecast for 12.05.23 – 19.05.23

Main scenario: consider long positions above the level of 1973.96 with a target of 2100.00 – 2172.16 after correction.

Alternative scenario: breakout and consolidation below the level of 1973.96 will allow the pair to continue declining to the levels of 1926.90 – 1897.94.

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 and a local correction is completed as second wave 2 of (5) on the H4 chart. The third wave... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/44RpdCr Open / Comment

2023-05-12 14:12:39 WTI Crude Oil: Elliott wave analysis and forecast for 12.05.23 – 19.05.23

Main scenario: consider short positions from corrections below the level of 73.95 with a target of 54.50 – 45.00.

Alternative scenario: breakout and consolidation above the level of 73.95 will allow the asset to continue rising to the levels of 83.95 – 94.00.

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 a local correction completed as the fourth wave iv of C of (2) inside. The fifth wave v of C of... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/41x1YLd Open / Comment

2023-05-12 14:00:37 Gold went too far. Forecast as of 12.05.2023

At first sight, gold is rallying on a solid foundation. Many bullish trumps haven't been exploited yet, but they are obviously weakening. That's about both the bank crisis and the market's belief in the Fed's dovish turn. Let’s discuss it and make a trading plan.

Weekly fundamental forecast for gold

The threat of a US default, the bank crisis, the expectations of the Fed's dovish turn in 2023, and the approaching recession of the US economy — these are four reasons for gold's upsurge to historical highs and capital inflows into gold ETFs in March-May, after 11-month outflows. The XAUUSD's... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/437iAdJ Open / Comment

2023-05-12 13:51:41 TRY currency pairs are switched to a close-only mode

Dear clients,

In connection with the upcoming presidential election in Turkey, scheduled on May 14, 2023, an unstable situation is expected in trading the currency pairs with the Turkish lira. For the USDTRY, EURTRY, and GBPTRY currency pairs, there is a high probability of both an increase in volatility and a decrease in liquidity, which could occur on the eve of the election and after it. There is a high risk of sharp changes in the market situation, widening of spreads, and the appearance of gaps.

Considering this information, we notify you that we, together with liquidity providers, have taken... Read more https://bit.ly/3I4hwPC Open / Comment

2023-05-12 13:42:44 USDJPY: Elliott wave analysis and forecast for 12.05.23 – 19.05.23

Main scenario: consider short positions from corrections below the level of 135.53 with a target of 127.38 – 121.66. 

Alternative scenario: breakout and consolidation above the level of 135.53 will allow the pair to continue rising to the levels of 137.86 – 142.30. 

Analysis: an ascending third wave of larger degree (3) is formed on the daily chart, and a descending correction presumably continues developing as the fourth wave (4). A corrective wave B of (4) is presumably completed on the H4 chart, and wave С of (4) started developing. The first wave of smaller degree i of С appears... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3W1a7WT Open / Comment

2023-05-12 13:13:50 GBPUSD: Elliott wave analysis and forecast for 12.05.23 – 19.05.23

Main scenario: consider short positions from corrections below the level of 1.2681 with a target of 1.2240 – 1.2137.

Alternative scenario: breakout and consolidation above the level of 1.2681 will allow the pair to continue rising to the levels of 1.2860 – 1.3050.

Analysis: the fifth wave of larger degree V presumably finished developing on the daily chart, with wave 5 of V formed as its part. A bearish correction finished developing as the second wave (2) on the H4 chart, and the third wave (3) started unfolding, with the first wave of smaller degree 1 of (3) formed as... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3BhNXpZ Open / Comment

2023-05-12 12:44:37 EURUSD: Elliott wave analysis and forecast for 12.05.23 – 19.05.23

Main scenario: consider short positions from corrections below the level of 1.1093 with a target of 1.0500 – 1.0334.

Alternative scenario: breakout and consolidation above the level of 1.1093 will allow the pair to continue rising to the levels of 1.1300 – 1.1500.

Analysis: a bearish wave of larger degree A is presumably completed on the daily chart, with the fifth wave (5) of А formed as its part. A bullish wave B started developing. On the H4 chart, apparently, the first counter-trend wave 1 of (A) of B finished forming, and a correction continues unfolding as second wave 2... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3BhJB27 Open / Comment

2023-05-12 12:14:38 USDCHF: Elliott wave analysis and forecast for 12.05.23 – 19.05.23

Main scenario: consider short positions from corrections below the level of 0.8995 with a target of 0.8704 – 0.8520. 

Alternative scenario: breakout and consolidation above the level of 0.8995 will allow the pair to continue rising to the levels of 0.9121 – 0.9220.

Analysis: an ascending correction of larger degree is formed as the fourth wave (4) on the daily chart. A bearish fifth wave (5) started unfolding. The first wave of smaller degree 1 of (5) is presumably developing on the H4 chart, with wave iii of 1 continuing forming inside. On the H1 chart, apparently, there's wave (iii)... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/41zmScm Open / Comment

2023-05-12 11:56:37 USDCAD: Elliott wave analysis and forecast for 12.05.23 – 19.05.23

Main scenario: consider long positions from corrections above the level of 1.3335 with a target of 1.3858 – 1.4054. 

Alternative scenario: breakout and consolidation below the level of 1.3335 will allow the pair to continue declining to the levels of 1.3194 – 1.3007.

Analysis: the fifth wave of larger degree 5 is presumably developing on the daily chart, with wave (3) of 5 forming as its part. The third wave 3 of (3) is formed on the H4 chart, and a correction is completed as the fourth wave 4 of (3). Apparently, the fifth wave 5 of (3) started forming... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3nUMAdD Open / Comment

2023-05-12 10:36:33 USD doesn't believe in dovish reversal. Forecast as of 12.05.2023

Who said the Fed has to cut rates five months after peaking? If we recall 1929, then the decline occurred after eight. In 1981 the rate was reduced after 29 months! Why sell the dollar? Let's discuss this topic and make up a trading plan for EURUSD.

Weekly US dollar fundamental forecast

Don't go against the Fed. The market again remembered this principle and began to buy the dollar. Despite new signs that the US economy is cooling, the debt ceiling issue, falling Treasury yields, and the possibility of a federal funds rate cut in 2023 following the release of new... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/456xi6z Open / Comment