The daily chart indicates that GOOGL is in the midst of Minor wave 3, suggesting that a series of wave threes are likely to unfold, signaling continued upside potential. This wave 3 is typically associated with strong bullish movement, often the most powerful wave in the sequence. Traders should look for higher highs and follow the bullish trend until a clear signal of wave 4 emerges.

GOOGL Elliott Wave technical analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave (v) of {iii}

Direction: Upside in wave (v).

Details: Looking for upside into wave (v) as have reached equality of {iii} vs. {i} and we are now targeting 1.618.

GOOGL Elliott Wave technical analysis – Four-hour chart

The 4-hour chart shows that GOOGL is advancing into wave (v) of {iii}. This wave is currently targeting the 1.618 extension level after having reached equality of {iii} vs.

Welcome to our latest Elliott Wave analysis for Alphabet Inc. (GOOGL). This analysis provides a detailed overview of GOOGL's price movements using the Elliott Wave Theory, aimed at helping traders identify potential trading opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on Alphabet Inc.'s market behavior.

Alphabet Inc. (GOOGL) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold surpasses $5,000/oz, daily highs

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The yellow metal’s upside is also propped up by the lack of clear direction around the US Dollar post-US CPI release.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.