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By tradinglounge · Posted
CAC 40 (France) Elliott Wave Analysis Tradinglounge - Day Chart CAC 40 (France) Elliott Wave Technical Analysis FUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: Gray wave 3 POSITION: Orange wave 3 DIRECTION NEXT HIGHER DEGREES: Gray wave 3 (may have started) DETAILS: Gray wave 2 appears completed. Gray wave 3 of orange wave 3 is now in progress. Wave Cancel Invalid Level: 7,031.04 The Elliott Wave analysis for the CAC 40 daily chart suggests a bullish trend, indicating upward momentum in the market. The mode of movement is described as impulsive, which implies a strong advance aligned with the primary trend. The wave structure being analyzed is gray wave 3, part of a broader bullish sequence. Currently, the market is situated in orange wave 3, within the larger structure of gray wave 3. Gray wave 2 is considered completed, and now gray wave 3 of orange wave 3 is unfolding. According to Elliott Wave Theory, wave 3 is usually the most powerful and extended in an impulsive sequence. This suggests a strong upward movement and consistent momentum as the market continues to rise. The completion of gray wave 2 marks the end of the previous corrective phase, signaling the beginning of a new impulsive leg moving higher. The analysis indicates that gray wave 3 may have already started, which would further confirm the ongoing bullish trend's strength. The next movement of a higher degree is expected to be gray wave 3, reinforcing the likelihood of continued upward progress in the market. The critical invalidation level to monitor is 7,031.04. If the market falls below this level, the current Elliott Wave analysis would be deemed invalid, necessitating a reevaluation of the wave structure. This level is crucial in determining whether the bullish trend will remain intact. In summary, the Elliott Wave analysis for the CAC 40 daily chart indicates a bullish trend, with both gray wave 3 and orange wave 3 in play. Traders should keep an eye on the invalidation level of 7,031.04 to confirm the continuation of the upward trend. As gray wave 3 progresses, the market is expected to maintain its upward momentum, pointing to further gains. CAC 40 (France) Elliott Wave Analysis - Weekly Chart CAC 40 (France) Elliott Wave Technical Analysis FUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: Orange wave 3 POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREES: Orange wave 3 (started) DETAILS: Orange wave 2 appears completed. Orange wave 3 of orange wave 3 is now in play. Wave Cancel Invalid Level: 7,031.04 The Elliott Wave analysis for the CAC 40 weekly chart indicates a bullish trend, pointing to strong upward momentum in the market. The mode is described as impulsive, suggesting the market is advancing decisively in line with the primary trend. The wave structure under consideration is orange wave 3, part of a larger impulsive sequence. At present, the market is positioned in navy blue wave 3, which lies within the broader structure of orange wave 3. The completion of orange wave 2 has already occurred, and now orange wave 3 of orange wave 3 is in progress. In Elliott Wave Theory, wave 3 is generally the most powerful and extended in an impulsive sequence, suggesting the market may experience sustained upward momentum as the bullish phase continues. The analysis suggests that orange wave 3 has begun, indicating that the market is in the early stages of what is anticipated to be a strong rally. Since wave 3 often carries the most strength in a trend, this phase is likely to see significant market gains. The critical invalidation level to monitor is 7,031.04. If the market dips below this level, the current Elliott Wave analysis would be invalid, necessitating a reassessment of the wave structure. This level is essential for confirming whether the bullish trend remains intact. In summary, the Elliott Wave analysis for the CAC 40 weekly chart shows a strong bullish trend, with orange wave 3 and navy blue wave 3 in play. The market is expected to continue rising, driven by the powerful impulsive structure of wave 3. Traders should keep an eye on the invalidation level of 7,031.04 to confirm the continuation of this bullish trend. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
USDJPY Elliott Wave Analysis - Trading Lounge Day Chart U.S. Dollar / Japanese Yen (USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Navy blue wave 2 Position: Gray wave 1 Direction Next Lower Degrees: Navy blue wave 3 Details: Navy blue wave 1 appears completed, with navy blue wave 2 currently in progress. Wave Cancel Invalid Level: 161.963 The USDJPY Elliott Wave Analysis for the daily chart indicates that the market is in a counter-trend phase, signifying a corrective movement against the main trend. This phase is characterized as corrective, implying that the current market behavior represents a temporary retracement rather than a continuation of the primary trend. The structure under analysis is navy blue wave 2, following the completion of navy blue wave 1. At this point, the market is positioned in gray wave 1, while the corrective phase of navy blue wave 2 unfolds. Navy blue wave 1 has already concluded, and the market is now experiencing the retracement phase of navy blue wave 2. According to Elliott Wave Theory, wave 2 typically retraces part of wave 1’s movement, signaling that the market is pulling back from the previous impulsive wave. This phase is expected to be temporary, with the market likely resuming its primary trend after the completion of navy blue wave 2. The next anticipated movement is navy blue wave 3, which generally follows the completion of wave 2. Wave 3 is often the most robust and extended wave in an Elliott Wave sequence, indicating a significant movement in the direction of the main trend once the correction phase concludes. A critical level to observe is 161.963, the wave cancel invalidation point. If the market drops below this level, the current wave analysis will be rendered invalid, and a new evaluation of the structure will be necessary. This level is essential for determining whether the corrective phase remains intact. Summary: The USDJPY Elliott Wave Analysis points to the market being in a corrective phase, with navy blue wave 2 currently playing out. Traders should closely monitor the invalidation level of 161.963 to confirm the ongoing correction's validity. Once navy blue wave 2 concludes, navy blue wave 3 is expected to continue the primary trend with greater momentum. U.S. Dollar / Japanese Yen (USDJPY) 4 Hour Chart USDJPY Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Navy blue wave 2 Position: Gray wave 1 Direction Next Lower Degrees: Navy blue wave 3 Details: Navy blue wave 1 seems completed, with navy blue wave 2 now unfolding. Wave Cancel Invalid Level: 161.963 The USDJPY Elliott Wave Analysis for the 4-hour chart highlights a counter-trend movement, indicating that the market is in a correction phase. This phase is classified as corrective, signifying a temporary retracement against the main trend. The structure currently being examined is navy blue wave 2, following the completion of navy blue wave 1. At this point, the market is positioned in gray wave 1, while navy blue wave 2 is developing. Navy blue wave 1 has already been completed, and the market is now in the retracement phase of navy blue wave 2. According to Elliott Wave Theory, wave 2 typically corrects some of the movement from wave 1, indicating that the market is temporarily retracing previous price action. This suggests that the current movement is temporary, and the primary trend is expected to resume after navy blue wave 2 completes. The next anticipated phase is navy blue wave 3, which generally follows the corrective wave 2. Wave 3 is typically the strongest and most extended wave in an Elliott Wave sequence, signaling a return to the dominant trend with stronger momentum once the correction concludes. A crucial level to observe is 161.963, which serves as the wave cancel invalidation point. If the market falls below this level, the current Elliott Wave analysis will be invalidated, and a reevaluation of the trend will be required. This level is essential in confirming whether the correction remains valid. Summary: The USDJPY Elliott Wave Analysis shows the market is in a corrective phase with navy blue wave 2 in progress. Traders should closely monitor the invalidation level of 161.963 to verify the correction's validity. Once navy blue wave 2 is complete, navy blue wave 3 is expected to resume the primary trend with stronger momentum. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By Cryptowarrior · Posted
XRP, the digital token linked to Ripple, has recently seen a sharp drop in price, diverging from the broader cryptocurrency market’s trend. XRP is trading at $0.52, down over 13.97% in the last 24 hours as per Coinpedia markets data. This steep decline stands out among top-ranking digital assets, as most other tokens have seen only modest losses of around 3%. Why Is XRP Dropping? While the overall market is down, XRP’s dramatic loss is a key concern. The primary factor behind this crash is the U.S. Securities and Exchange Commission’s (SEC) decision to file an appeal in its legal case against Ripple. SEC Appeal: The Main Trigger The SEC’s appeal of a recent court ruling in favor of Ripple has sent shockwaves through the XRP market. The agency is challenging the ruling on Ripple’s programmatic sales of XRP, which Judge Analisa Torres had ruled in favor of Ripple. However, the SEC has agreed with the court’s finding that XRP is not a security, so the appeal focuses only on the sales aspect. Ripple CEO Responds: Sarcasm and Frustration Ripple CEO Brad Garlinghouse quickly responded to the price drop, tweeting sarcastically, "This is a chart that shows you how the SEC is protecting you." His remark highlights the frustration Ripple executives feel about the SEC’s ongoing actions, which they believe are harming investors rather than protecting them. SEC’s Appeal: A Disappointment for Ripple Ripple executives have expressed disappointment at the SEC’s decision to file an appeal. Garlinghouse criticized the SEC for spending taxpayer money on what he sees as a losing case. He stated, "I’m pissed that they are able to act without recourse or consequence," but emphasized that Ripple will continue fighting and remains confident in ultimately prevailing. Ripple's Legal Team on the SEC’s Actions Ripple’s Chief Legal Officer, Stuart Alderoty, also shared frustration with the SEC’s appeal, saying it only prolongs the embarrassment for the agency. Alderoty accused the SEC of not applying the law fairly and continuing its litigation against the crypto industry under its current leadership. What’s Next for XRP? With the SEC’s appeal in motion, XRP’s price may remain volatile. The legal battle is expected to influence XRP’s value in the short term, as market uncertainty often leads to price swings. For more in-depth analysis on XRP price prediction and the factors affecting its future, check out our detailed article on what’s ahead for XRP.
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