USD/KZT Long-Term Forecast Using Elliott Waves and Fibonacci Tim
Description:
In this analysis, we apply Elliott Wave theory and Fibonacci time zones to forecast the long-term movement of USD/KZT. This approach reveals critical price levels and timelines that could shape the future trend of the currency pair.
Chart Overview:
• Current Price: 473.32 KZT/USD (as of June 29, 2024)
• Key Levels:
• High: 525.30 KZT
• Low: 374.92 KZT
Elliott Wave Analysis:
1. Wave 1: Identified from the significant low in 2020 to the high in early 2022.
2. Wave 2: Corrective phase from 2022 to 2023, retracing to the 0.618 Fibonacci level.
3. Wave 3: Projected to extend to the 2.618 Fibonacci level, around 749.91 KZT, reaching its peak in 2027.
4. Wave 4: Expected corrective phase, retracing to key Fibonacci levels (0.382 at 636.87 KZT or 0.5 at 593.54 KZT).
5. Wave 5: Final upward wave, potentially reaching the 1.618 Fibonacci extension at 953.11 KZT by 2031.
Fibonacci Time Analysis:
• The Fibonacci time zones highlight significant dates for trend changes:
• 28 Jun 2027: A crucial date marking the anticipated peak of Wave 3. This aligns with the 2.618 Fibonacci time zone, suggesting a major trend reversal or significant market event around this time.
Conclusion:
The confluence of Elliott Wave and Fibonacci time analysis indicates a strong bullish trend for USD/KZT, with critical price levels and dates to watch. The date of June 28, 2027, stands out as a pivotal moment where the market could experience significant shifts.
Trade Strategy:
• Long Positions: Consider entering on retracements during Wave 2 and Wave 4 corrections.
• Short Positions: Watch for signs of a trend reversal around June 28, 2027, to capitalize on the potential start of Wave 4.
Disclaimer:
This analysis is based on historical data and technical analysis principles. Always conduct your own research and consult with a financial advisor before making trading decisions.
In this analysis, we apply Elliott Wave theory and Fibonacci time zones to forecast the long-term movement of USD/KZT. This approach reveals critical price levels and timelines that could shape the future trend of the currency pair.
Chart Overview:
• Current Price: 473.32 KZT/USD (as of June 29, 2024)
• Key Levels:
• High: 525.30 KZT
• Low: 374.92 KZT
Elliott Wave Analysis:
1. Wave 1: Identified from the significant low in 2020 to the high in early 2022.
2. Wave 2: Corrective phase from 2022 to 2023, retracing to the 0.618 Fibonacci level.
3. Wave 3: Projected to extend to the 2.618 Fibonacci level, around 749.91 KZT, reaching its peak in 2027.
4. Wave 4: Expected corrective phase, retracing to key Fibonacci levels (0.382 at 636.87 KZT or 0.5 at 593.54 KZT).
5. Wave 5: Final upward wave, potentially reaching the 1.618 Fibonacci extension at 953.11 KZT by 2031.
Fibonacci Time Analysis:
• The Fibonacci time zones highlight significant dates for trend changes:
• 28 Jun 2027: A crucial date marking the anticipated peak of Wave 3. This aligns with the 2.618 Fibonacci time zone, suggesting a major trend reversal or significant market event around this time.
Conclusion:
The confluence of Elliott Wave and Fibonacci time analysis indicates a strong bullish trend for USD/KZT, with critical price levels and dates to watch. The date of June 28, 2027, stands out as a pivotal moment where the market could experience significant shifts.
Trade Strategy:
• Long Positions: Consider entering on retracements during Wave 2 and Wave 4 corrections.
• Short Positions: Watch for signs of a trend reversal around June 28, 2027, to capitalize on the potential start of Wave 4.
Disclaimer:
This analysis is based on historical data and technical analysis principles. Always conduct your own research and consult with a financial advisor before making trading decisions.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.