empty
 
 

Forex Analysis & Reviews: EUR/USD. Analysis for November 29. The euro still has a chance to develop a downward wave.
time 29.11.2022 04:29 PM
time Relevance up to, 30.11.2022 04:23 PM

This image is no longer relevant

Although it still looks very convincing, the wave marking on the 4-hour chart for the euro/dollar instrument needs to be adjusted. The upward portion of the trend has corrected itself. A-b-c-d-e waves have a complex correction structure that we have discovered. Since the peak of wave e exceeds the peak of wave C, if the current wave layout is accurate, construction on this structure may be nearly finished or already be finished. In this instance, it is anticipated that we will construct at least three waves downward, but if the most recent phase of the trend was corrective, the subsequent phase will probably be impulsive. I am therefore getting ready for a new, significant decline in the instrument. The market will be ready to sell when a new attempt to breach the 1.0359 level, which corresponds to 261.8% Fibonacci, is successful. The wave e may end up being longer overall, and the instrument's most recent decline is not the first wave of a new descending section, as evidenced by the quotes' withdrawal from the lows reached last week and on Monday. The alleged waves 2 or b, however, might still exist because they only punctured wave e's peak. Because there isn't an increase in demand for US currency, the wave pattern is generally starting to become muddled.

There are intriguing performances, but there are still no reports.

The new week got off to a very active start for the euro/dollar instrument. The movements on Monday had a very high amplitude, but the instrument was unable to reach an upward potential at this time, so the wave marking is still intact. Representatives of the ECB and the Fed have recently provided a variety of information. I can't say that all of this information contradicts one another, but the market is currently nervous and lacks a clear plan for what to do next. Recall that the current wave markup appears almost entirely clear and calls for the creation of a downward wave. But this wave cannot be built if the demand for US currency does not rise.

Yesterday afternoon, the St. Louis Federal Reserve's president, James Bullard, delivered a speech. Bullard is regarded as one of the toughest "hawks," and his rhetoric frequently raises interest in US currency. Exactly that is what we might have witnessed yesterday. Bullard predicted that once the rate exceeds 5%, it will remain extremely high throughout 2023 and a portion of 2024. He thinks that the market continues to undervalue the full impact of high inflation and the necessity for long-term tight monetary policy. Bullard emphasized that "inflation will not slow down by itself." Additionally, the rate increase in December was not discussed by the president of the St. Louis Federal Reserve. Everyone agrees that the Fed will increase interest rates by 50 basis points at its next meeting, but Bullard could have been counted on to support a 75-point increase. Regardless, his rhetoric was in favor of the US dollar, but it now needs to build on this success.

This image is no longer relevant

Conclusions in general

I conclude that the upward trend section's construction is complete and has increased in complexity to five waves (or is nearing its completion). As a result, I suggest making sales with targets close to the estimated 0.9994 level, or 323.6% Fibonacci. There is a chance that the upward section of the trend will become more complicated and take on an extended form, but this chance is currently no greater than 10%.

The wave marking of the descending trend segment noticeably becomes more intricate and lengthens at the higher wave scale. The a-b-c-d-e structure is most likely represented by the five upward waves we observed. After the construction of this section is finished, work on a downward trend section may resume.

Chin Zhao,
ผู้เชี่ยวชาญด้านการวิเคราะห์ของ InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade

บทวิเคราะห์ของทาง InstaForex จะทำให้คุณทราบถึงแนวโน้มของตลาด! ในการที่เป็นลูกค้าของทาง InstaForex นั้นคุณจะได้รับการบริการเพื่อการซื้อขายอย่างเต็มประสิทธิภาพอย่างมากมาย

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    เข้าร่วมการแข่งขัน
  • Chancy Deposit
    ฝากเงินในบัญชีของคุณใน $3,000 และรับ $1000 ไปเพิ่ม!
    ใน กุมภาพันธ์ ทางเราได้ออก$1000 ภายในแคมเปญ Chancy Deposit !
    คว้าโอกาสที่จะชนะด้วยการฝากเงิน $3,000 ไปในบัญชีเทรด เมื่อทำตามเงื่อนไขนี้แล้ว คุณก็จะกลายเป็นผู้เข้าร่วมแคมเปญ
    เข้าร่วมการแข่งขัน
  • เทรดให้ดีแล้วคว้ารางวัล
    เติมเงินในบัญชีของคุณอย่างน้อย $500 สมัครเข้าร่วมการแข่งขัน และลุ้นรับรางวัลอุปกรณ์ติดต่อสื่อสารแบบพกพา
    เข้าร่วมการแข่งขัน
  • โบนัส 100%
    โอกาสพิเศษของคุณในการรับโบนัส 100% จากเงินฝากของคุณ
    รับโบนัส
  • โบนัส 55%
    สมัครรับโบนัส 55% สำหรับการฝากทุกครั้ง
    รับโบนัส
  • โบนัส 30%
    รับโบนัส 30% ทุกครั้งที่คุณเติมเงินในบัญชีของคุณ
    รับโบนัส

Recommended Stories

GBP/USD. Analysis for February 7. Neil Kashkari: The target rate is 5.4%.

The wave pattern for the pound/dollar pair now appears very confusing but does not call for any clarifications. The wave patterns for the euro and the pound differ somewhat

Chin Zhao 16:03 2023-02-07 UTC+2

EUR/USD. Analysis for February 7, 2023

The 4-hour chart for the euro/dollar pair still shows the same wave structure, which is excellent because it allows us to predict how the situation will play out. Although

Chin Zhao 15:45 2023-02-07 UTC+2

EURUSD wave analysis for February 7th, 2023

EURUSD is clearly in a short-term bearish trend as price is making lower lows and lower highs. Price has formed a downward sloping channel and is currently on its final

Alexandros Yfantis 15:25 2023-02-07 UTC+2

Elliott wave analysis of EUR/USD for February 7, 2023

The expanded flat correction in wave 4/ that has unfolded since the 1.0925 peak is now close to completion. We could still see EUR/USD drop to 1.0650, but the potential

Torben Melsted 06:52 2023-02-07 UTC+2

GBP/USD. Analysis for February 6, 2023

The wave pattern for the pound/dollar pair now appears very confusing but does not call for any clarifications. The wave patterns for the euro and the pound differ somewhat

Chin Zhao 18:04 2023-02-06 UTC+2

EUR/USD. Analysis for February 6, 2023

The wave pattern for the euro/dollar pair on the 4-hour chart hasn't moved at all recently, which is excellent because it means we know how the situation might change. Although

Chin Zhao 17:49 2023-02-06 UTC+2

Elliott wave analysis of EUR/USD for February 6, 2023

With the break below minor support at 1.0835, it was clear that wave 4 still was in progress in form of an expanded flat correction. We will be looking

Torben Melsted 06:07 2023-02-06 UTC+2

Elliott wave analysis of Tesla for February 3, 2023

Tesla has recovered nicely in wave 4/ as predicted and could move a bit closer to 199.50 before turning lower again in wave 5/ of 3 closer to our long-term

Torben Melsted 07:13 2023-02-03 UTC+2

Elliott wave analysis of EUR/USD for February 3, 2023

EUR/USD broke strongly above the former top at 1.0933 after the Fed's decision to hike only 25 bps and a follow-up with a dovish press conference. However, the spike

Torben Melsted 07:05 2023-02-03 UTC+2

GBP/USD wave analysis on February 2, 2023. GBP moving in line with wave structure

The wave layout of GBP/USD looks rather complex and does not require any adjustments. However, its structure starts to differ when compared to the layout of the euro/dollar pair

Chin Zhao 07:48 2023-02-02 UTC+2
หากไม่สะดวกคุยในตอนนี้
ระบุคำถามไว้ได้ใน แชท.