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Elliot Wave Analysis by Solidecn.com


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The pair may grow.
On the daily chart, the first wave of the higher level (1) develops, within which the wave 3 of (1) forms. Now, the development of the third wave of the lower level iii of 3 is ending, within which the wave (v) of iii is ending. 

If the assumption is correct, after the end of the local correction as the fourth wave iv of 3, the USDJPY pair will grow to the levels of 138.5 – 142. In this scenario, critical stop loss level is 126.45.

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The pair may fall.
On the daily chart, the downward wave of the higher level C of (B) develops, within which the fifth wave v of (C) develops. Now, the third wave of the lower level (iii) of v of (C) has formed, a local correction has developed as the fourth wave (iv) of v, and the fifth wave (v) of v is forming, within which the wave iii of (v) is developing. 

If the assumption is correct, the EURUSD pair will fall to the levels of 1.0300 - 1.0200. In this scenario, critical stop loss level is 1.0790.

eurusd.png
 

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On the daily chart, a downward correction developed as the 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 a local correction is ending as the wave (ii) of i. 

If the assumption is correct, after the end of the correction, the GBPUSD pair will grow to the levels of 1.3148–1.3311. In this scenario, critical stop loss level is 1.2160.

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On the daily chart, the first wave of the higher level (1) develops, within which the wave 3 of (1) forms. Now, the third wave of the lower level iii of 3 has developed, within which the wave (v) of iii has formed, and a downward correction has started to develop as the fourth wave iv of 3. 

If the assumption is correct, the USD JPY pair will fall to the levels of 128.52 – 124.48. In this scenario, critical stop loss level is 135.22.

usdjpy.png
 

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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. Now, the wave (А) of 2 has formed, within which the fifth wave of the lower level 5 of (А) has developed, and a local correction has started to develop as the wave (B) of 2. 

If the assumption is correct, after the end of the correction, the price will fall to the levels of 26.32 – 20.82. In this scenario, critical stop loss level is 43.40.

bac.png
 

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AUDUSD, the pair may fall.
On the daily chart, the first wave of the higher level (1) of C developed, and a downward correction forms as the wave (2) of C, within which the wave C of (2) forms. Now, the wave of the lower level i of C has formed, a local correction has developed as the wave ii of C, and the wave iii of C is forming. 

If the assumption is correct, the AUD USD pair will fall to the levels of 0.6742 – 0.6446. In this scenario, critical stop loss level is 0.7235.

audusd.png
 

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IBM, the price may grow.
On the daily chart, the first wave of the higher level (1) develops, within which the fifth wave 5 of (1) forms. Now, the third wave of the lower level iii of 5 is developing, within which the wave (iii) of iii is forming. 
 
If the assumption is correct, the price will grow to the levels of 153.45 – 160 In this scenario, critical stop loss level is 125.6.
 
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USD CAD, the pair may grow.
On the daily chart, the first wave of the higher level (1) of 5 forms, within which the wave 3 of (1) develops. Now, the third wave of the lower level iii of 3 is forming, within which the wave (i) of iii has formed, a local correction has developed as the wave (ii) of iii, and the wave (iii) of iii is forming. 

If the assumption is correct, the USD CAD pair will grow to the levels of 1.341 – 1.37. In this scenario, critical stop loss level is 1.2507.

usdcad.png

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Boeing, the price may fall.
On the daily chart, the downward wave of the higher level (C) develops, within which the third wave 3 of (C) forms. Now, the wave of the lower level iii of 3 has formed, and a local correction has started to develop as the wave iv of 3. 

If the assumption is correct, after the end of the correction, the price will fall to the levels of 89.41 – 50. In this scenario, critical stop loss level is 167.33.

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Intel, the price may fall.

If the assumption is correct, after the end of the local correction (iv) of iii the price will fall to the levels of 31.5 - 24.4. In this scenario, critical stop loss level is 48.95.

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USD TRY - The lira consolidates near record lows
Experts believe that the rapid weakening of the lira is the result of President Recep Tayyip Erdogan's intervention in monetary policy, who insists on lowering interest rates even in the face of rapid inflation, which reached 73.5% in May. So, at the end of 2021, the rate was corrected from 19% to 14%, and, according to the country's leader, this policy will continue soon. It is a powerful driver of the decline of the national currency, the rate of which at the beginning of the week reached the December minimum around 17.3600. Today, the Central Bank of Turkey will announce a decision on the weekly repo auction rate, which has not changed since December 2021. The prospects for monetary policy remain uncertain: it is obvious that a sharp increase in the interest rate should not be expected, while the current measures to combat rising inflation are not enough. Also, rapidly declining foreign exchange reserves are putting pressure on the authorities: last week, they adjusted by 1B dollars and now stand at 7B dollars, forcing the authorities to swap with Saudi Arabia.

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Yesterday, at the opening of the daytime session, the US dollar showed an active decline but then quickly regained all lost ground with the support of the speech of the head of the US Federal Reserve, Jerome Powell, in the national Congress, which confirmed the regulator's commitment to the course of further tightening of monetary policy. At the same time, the official did not touch upon the topic of a possible economic recession, which still serves as a strong deterrent for the national currency.

Resistance levels: 17.4, 17.6, 17.75 | Support levels: 17.1, 17, 16.75, 16.6
 

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