Details: We are looking for downside into what appears to be an Intermediate wave (2). If we were to break and found resistance on top of 400$ we could expect further downside towards MG2 of 300 at 380-372-365.

MSFT Elliott Wave technical analysis – Daily chart

Microsoft appears to be completing a wave C of the corrective wave (2). The downside pressure is evident, and a key level to watch is the $400 mark. If the price breaks and establishes resistance near $400, further downside may be anticipated towards the MinorGroup2 (MG2) support levels around $380, $372, and $365. These levels would serve as potential targets before the correction completes.

MSFT Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave {i} of C.

Direction: Downside in wave C.

Details: Looking for a potential bounce in wave {ii} of C as we seem to have a five wave move completed in wave {i}. Looking for another leg higher in what could be wave (c) of {ii} and then continue lower.

MSFT Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, a five-wave decline in wave {i} seems to have been completed within the larger wave C. Currently, we are likely to see a corrective bounce in wave {ii}, potentially developing into an (a)-(b)-(c) structure. After this correction, downside is expected to continue in wave {iii} of C, confirming the overall bearish trend until support levels in the 380-365 range are tested.

This Elliott Wave analysis for Microsoft Inc., (MSFT) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.

Microsoft Inc. (MSFT) 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: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold holds gains near $5,000 as China's gold buying drives demand

Gold price clings to the latest uptick near $5,000 in Asian trading on Monday. The precious metal holds its recovery amid a weaker US Dollar and rising demand from the Chinese central bank. The delayed release of the US employment report for January will be in the spotlight later this week.

Bitcoin Weekly Forecast: The worst may be behind us

Bitcoin price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.