WavePoint_FX

WavePoint_FX

Currently, the market is presenting multiple wave scenarios with nearly equal probabilities. To avoid noise and gain clarity, we are shifting our analysis to the H4 timeframe. 🔹 Key Price Zone As highlighted in yesterday’s update, the 3340 level remains a critical resistance. Price failed to break above this level and has since pulled back to 3307. 🔹 Momentum &...

WavePoint_FX Updated 

Elliott Wave Analysis After Friday’s deep decline, price touched the level of wave 1 (black), invalidating the flat wave 4 scenario. Currently, the structure of wave 5 (black) appears to be a terminal triangle, and the sharp and steep drop afterward is consistent with post-terminal triangle behavior. Post wave 5 completion, two possible bearish scenarios...

WavePoint_FX Updated 

🔍 Current Wave Structure Yesterday's sharp and impulsive drop suggests a completed 5-wave structure for wave c (red) within a larger flat correction (abc red). However, this morning's bullish move lacks momentum — candles are overlapping and price has failed to break above the 3383 level. This casts doubt on the current wave being the beginning of a new...

WavePoint_FX Updated 

🌀 Current Wave Structure On the H1 timeframe, price action is currently overlapping — a sign that the corrective phase may not be over yet. If the correction had indeed ended at 3334, we would expect a sharper and more impulsive rally typical of wave 3 (green) within wave 3 (black). The lack of that strong momentum suggests the correction could still be...

WavePoint_FX Updated 

🌀 Current Wave Structure On the chart, we’re observing a 5-wave green structure within wave 3 (black). Wave 3 (green) has been completed, and the market is now forming wave 4 (green). 👉 Since wave 3 was an extended move, wave 4 is likely to be a quick, shallow correction. The ‘a’ leg of the correction has formed, and we’re expecting a bounce into wave b...

WavePoint_FX

🌀 Current Wave Structure On the H1 timeframe, wave 2 (black) appears to have completed as a zigzag pattern, with price reacting strongly after touching the 3272 level — signaling that the abc corrective wave (green) may be finished. Zooming into the M10 timeframe, the recent rally shows a 5-wave leading diagonal, indicating that wave 1 (red) is...

WavePoint_FX Updated 

🔍 Wave Structure Update As of now, price has broken above the X wave high and is undergoing a retracement. This is a positive signal, suggesting that Wave 1 (black) of the larger green impulsive wave may have completed. Currently, price is likely in Wave 2 (black) – offering a good opportunity to position for the upcoming Wave iii (green). Within Wave 2, we...

WavePoint_FX Updated 

🔍 Current Wave Structure Price is currently correcting within a WXY structure, also known as a double zigzag. At the moment, the market is progressing through wave Y, with two potential targets: 🎯 Target 1: 3245 – already reached, and price has bounced sharply from this zone. 🎯 Target 2: 3215 – a deeper target, requiring further confirmation from price action...

WavePoint_FX Updated 

🔍 Current Wave Structure Following yesterday’s sharp decline, price has made a mild recovery and is currently consolidating around the 3314 area. The drop has nearly reached the projected wave C (green) target, but the current rebound — with overlapping small H1 candles — suggests the bullish structure is still unconvincing. We’re now monitoring two potential...

WavePoint_FX

📊 Elliott Wave Analysis – XAUUSD – H1 Timeframe On the H1 chart, drawing an Elliott channel reveals that price is currently within wave iii (orange), and developing wave 5 (green) within that structure. Once wave 5 (green) completes, the market is expected to correct downwards into wave iv (orange) before resuming the uptrend to complete wave v (orange). 🔍 ...