Paypal (PYPL) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

PYPL Elliott Wave Analysis Trading Lounge Daily Chart,

Paypal (PYPL) Daily Chart.

PYPL Elliott Wave technical analysis

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave 3 or C.
Direction: Upside in wave 3/C.

Details: The analysis indicates potential upward movement within wave 3 or C, which should develop in a five-wave pattern. Currently, it appears that the price is within wave {iii} of this progression.

PYPL Elliott Wave Analysis Trading Lounge 1H Chart,

Paypal (PYPL) 1H Chart.

PYPL Elliott Wave technical analysis

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {iii} of 3/C.
Direction: Upside in wave {iii}

Details: A correction is expected in wave (iv) of {iii} as the price has yet to achieve the 1.618 extension of wave {iii} relative to wave {i}.

This Elliott Wave analysis for PayPal Holdings Inc. (PYPL) covers both the daily and 1-hour charts. The report provides insight into the potential price direction and structure of PYPL, offering traders valuable information on possible market opportunities.

PYPL Elliott Wave technical analysis – Daily chart

PYPL is progressing within either wave 3 or wave C, which, if impulsive, should unfold in a five-wave structure. Current market activity suggests that PYPL is within wave {iii}, indicating further upside potential as the wave continues to develop. Confirmation of this wave count will rely on observing whether the structure remains impulsive, characterized by clear subdivisions into five waves.

PYPL Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, PYPL is advancing within wave {iii} of 3 or C, demonstrating strong upward momentum. However, a correction in wave (iv) of {iii} is expected before further gains. The target for wave {iii} likely lies at 1.618 times the length of wave {i}, a common extension level in Elliott Wave theory. This implies that following the wave (iv) correction, another upward move is anticipated to complete wave {iii}.

Technical analyst: Alessio Barretta.

PYPL 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 reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold: Volatility persists in commodity space

After losing more than 8% to end the previous week, Gold remained under heavy selling pressure on Monday and dropped toward $4,400. Although XAU/USD staged a decisive rebound afterward, it failed to stabilize above $5,000. The US economic calendar will feature Nonfarm Payrolls and Consumer Price Index data for January, which could influence the market pricing of the Federal Reserve’s policy outlook and impact Gold’s performance.

Week ahead: US NFP and CPI data to shake Fed cut bets, Japan election looms

US NFP and CPI data awaited after Warsh’s nomination as Fed chief. Yen traders lock gaze on Sunday’s snap election. UK and Eurozone Q4 GDP data also on the agenda. China CPI and PPI could reveal more weakness in domestic demand.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

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.