EUR/USD Wave analysis and forecast of 24.10 – 31.10: The pair is likely to decline.
Estimated pivot point is at the level of 1.2840.
Our opinion: Sell the pair from correction below the level of 1.2840 with the targets of 1.25 – 1.24 – 1.23.
Alternative scenario: Breakout and consolidation of the price above of the level of 1.2840 will enable the price to continue growth to the levels of 1.2950 – 1.30.
Analysis: Presumably, the formation of the “bullish” correction as the fourth wave has completed. Locally, one-two one-two momentum as the first wave (i) of v is nearing completion. If this assumption is correct, it makes sense to expect that the pair will decline in the fifth wave to the levels of 1.25 – 1.24 – 1.23. Critical level for this scenario is 1.2840.![EURUSD H1]()
![EURUSD H4]()
GBP/USD Wave analysis and forecast of 24.10 – 31.10: Decline in the pair is likely to continue.
Estimated pivot point is at the level of 1.5870.
Our opinion: Buy the pair from correction above the level of 1.5870 with the target of 1.6380 – 1.64.
Alternative scenario: Breakout and consolidation below the level of 1.5870 will allow the price continue the decline to the levels of 1.58 – 1.57 in the “bearish” trend.
Analysis: In accordance with the existing wave pattern of the down-wave we can assume that the wave A of the senior level has completed, taking a shape of a wedge. Locally, it seems that the formation of the wave B has started and within this wave there is one-two one-two momentum (a) and correction to it (b). If this assumption is correct, following the completion of the wave (b) it is expected that the price will rise up to the levels of 1.6380 – 1.64. Critical level for this scenario is 1.5870.![GPBUSD H1]()
![GPBUSD H4]()
USD/CHF Wave analysis and forecast of 24.10 – 31.10: The pair is likely to grow.
Estimated pivot point is at the level of 0.9390.
Our opinion: Buy the pair from correction above the level of 0.9390 with the target of 0.97 – 0.98.
Alternative scenario: Buy the pair from correction above the level of 0.9390 with the target of 0.97 – 0.98.
Analysis: Presumably, the formation of the local correction as the fourth wave 4 has completed. Locally, one-two one-two momentum as the first wave is being formed and if this assumption is correct, it is likely that following the completion of the small correction (ii), the price can go up in the fifth wave to the levels of 0.97 – 0.98. Critical level for this scenario is the level of 0.9390.![USDCHF H1]()
![USDCHF H4]()
USD/JPY Wave analysis and forecast of 24.10 – 31.10: The rise in the pair has resumed.
Estimated pivot point is at the level of 106.17.
Our opinion: Buy the pair from correction above the level of 106.17 with the target of 110.00 – 111.00.
Alternative scenario: Breakout and consolidation of the price below the level of 106.17 will enable the pair to continue the decline to the level of 104.50.
Analysis: Presumably, the formation of the “bearish” correction as the fourth wave 4 of (5) has completed in the developing diagonal triangle within the fifth wave of the senior level. Locally, the first one-two one-two wave is being formed. If this assumption is correct, it makes sense to expect that the pair will grow in the fifth final wave 5 of (5) to the level of 111.0.![USDJPY H4]()
![USDJPY Daily]()
USD/СAD Wave analysis and forecast of 17.10 – 24.10: Uptrend continues.
Estimated pivot point is at the level of 1.1080.
Our opinion: Buy the pair above the level of 1.1080 with the target of 1.14 – 1.15.
Alternative scenario: Breakout and consolidation of the price below the level of 1.1080 will enable the pair to continue the decline to the levels of 1.10 – 1.09.
Analysis: Presumably, the formation of the fourth wave iv of the senior level has completed. Locally it seems that the price is going to reverse and small one-two one two wave are being formed. If this assumption is correct and the price does not break down critical level of 1.1180, the pair is likely to rise to the levels of 1.14 – 1.15 in the fifth wave.
Estimated pivot point is at the level of 1.2840.
Our opinion: Sell the pair from correction below the level of 1.2840 with the targets of 1.25 – 1.24 – 1.23.
Alternative scenario: Breakout and consolidation of the price above of the level of 1.2840 will enable the price to continue growth to the levels of 1.2950 – 1.30.
Analysis: Presumably, the formation of the “bullish” correction as the fourth wave has completed. Locally, one-two one-two momentum as the first wave (i) of v is nearing completion. If this assumption is correct, it makes sense to expect that the pair will decline in the fifth wave to the levels of 1.25 – 1.24 – 1.23. Critical level for this scenario is 1.2840.
GBP/USD Wave analysis and forecast of 24.10 – 31.10: Decline in the pair is likely to continue.
Estimated pivot point is at the level of 1.5870.
Our opinion: Buy the pair from correction above the level of 1.5870 with the target of 1.6380 – 1.64.
Alternative scenario: Breakout and consolidation below the level of 1.5870 will allow the price continue the decline to the levels of 1.58 – 1.57 in the “bearish” trend.
Analysis: In accordance with the existing wave pattern of the down-wave we can assume that the wave A of the senior level has completed, taking a shape of a wedge. Locally, it seems that the formation of the wave B has started and within this wave there is one-two one-two momentum (a) and correction to it (b). If this assumption is correct, following the completion of the wave (b) it is expected that the price will rise up to the levels of 1.6380 – 1.64. Critical level for this scenario is 1.5870.
USD/CHF Wave analysis and forecast of 24.10 – 31.10: The pair is likely to grow.
Estimated pivot point is at the level of 0.9390.
Our opinion: Buy the pair from correction above the level of 0.9390 with the target of 0.97 – 0.98.
Alternative scenario: Buy the pair from correction above the level of 0.9390 with the target of 0.97 – 0.98.
Analysis: Presumably, the formation of the local correction as the fourth wave 4 has completed. Locally, one-two one-two momentum as the first wave is being formed and if this assumption is correct, it is likely that following the completion of the small correction (ii), the price can go up in the fifth wave to the levels of 0.97 – 0.98. Critical level for this scenario is the level of 0.9390.
USD/JPY Wave analysis and forecast of 24.10 – 31.10: The rise in the pair has resumed.
Estimated pivot point is at the level of 106.17.
Our opinion: Buy the pair from correction above the level of 106.17 with the target of 110.00 – 111.00.
Alternative scenario: Breakout and consolidation of the price below the level of 106.17 will enable the pair to continue the decline to the level of 104.50.
Analysis: Presumably, the formation of the “bearish” correction as the fourth wave 4 of (5) has completed in the developing diagonal triangle within the fifth wave of the senior level. Locally, the first one-two one-two wave is being formed. If this assumption is correct, it makes sense to expect that the pair will grow in the fifth final wave 5 of (5) to the level of 111.0.
USD/СAD Wave analysis and forecast of 17.10 – 24.10: Uptrend continues.
Estimated pivot point is at the level of 1.1080.
Our opinion: Buy the pair above the level of 1.1080 with the target of 1.14 – 1.15.
Alternative scenario: Breakout and consolidation of the price below the level of 1.1080 will enable the pair to continue the decline to the levels of 1.10 – 1.09.
Analysis: Presumably, the formation of the fourth wave iv of the senior level has completed. Locally it seems that the price is going to reverse and small one-two one two wave are being formed. If this assumption is correct and the price does not break down critical level of 1.1180, the pair is likely to rise to the levels of 1.14 – 1.15 in the fifth wave.
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