Wave analysis and forecast of 21.11 – 28.11

EUR/USD Wave analysis and forecast of 21.11 – 28.11: The pair is likely to grow.

Estimated pivot point is at the level of 1.2356.

Our opinion: Buy the pair from correction above the level of 1.2356 with the target of 1.28 – 1.2850.

Alternative scenario: Breakout and consolidation of the price below the level of 1.2356 will enable the pair to continue the decline to the levels of 1.2300 – 1.2250.

Analysis: The formation of the “bullish” correction in the wave 2 of the senior level continues. At the moment it seems that the wedge as the first one-two wave (i) of a of 2 has been formed and the local correction is being developed as the second wave (ii) of the junior level. If this assumption is correct and the price does not break down the critical level of 1.2356, after the completion of correction it makes sense to expect continuation of the rise in the pair up to the level of 1.28 – 1.2850. 

 

GBP/USD Wave analysis and forecast of 21.11 – 28.11: It is likely that “bearish” trend has come to completion, while “bullish” correction will develop.
Estimated pivot point is at the level of 1.5735.

Our opinion: In the short-term: sell the pair below the level of 1.5730 with the target of 1.5520. In the medium-term: wait for the completion of the fifth wave and in case of confirming signals buy the pair above the level of 1.5735 with the target of 1.5920 – 1.6150.

Alternative scenario: The pair will continue to decline in the bearish trend.

Analysis: Presumably, the formation of the fifth wave v of A within the “bearish” wedge is nearing completion. Locally it is likely that a small correction as the fourth wave (iv) has completed and the final fifth wave (v) is being formed. If this assumption is correct, after the completion of the correction a large-scale correction will start in the second wave of the senior level to the levels of 1.6160 – 1.6360.  

 

USD/CHF Wave analysis and forecast of 21.11 – 28.11: The pair is likely to decline.
Estimated pivot point is at the level of 0.9740.
Our opinion: Wait for the completion of the correction ii of A and sell the pair below the level of 0.9740 with the target of 0.9400 – 0.9350.

Alternative scenario: Breakout and consolidation of the price above of the level of 0.9740 will enable the rise in the pair up to the levels of 0.98 – 0.9850.

Analysis: Presumably, the formation of the fifth wave of the upward momentum (A) has completed on the daily timeframe. Locally, it seems that the first one-two wave i of A is being formed in the shape of the wedge, as well as the correction in the wave ii of A. If this assumption is correct and the price does not break down the critical level of 0.9740, after the completion of correction it makes sense to expect that decline in the pair will continue to the level of 0.9580 – 0.95. 

 

USD/JPY Wave analysis and forecast of 21.11 – 28.11: “Bearish” correction is likely to develop.
Estimated pivot point is at the level of 119.0.

Our opinion: Sell the pair from correction below the level of 119.0 with the target of 117.0 – 118.0. In case of breakdown of the level of 114.80, sell the pair with the target of 115.50 – 114.0.

Alternative scenario: Breakout and consolidation of the price above the level of 119.0 will enable the price to continue the rise up to the levels of 119.50 – 120.0.

Analysis: Presumably, the formation of the “bullish” momentum in the third wave of the senior level iii of 3 has completed. Locally, the formation of the fifth wave of the junior level v of (v) of iii has come to an end, while the reversal and the first one-two wave of the future correction are being formed. If this assumption is correct and the price does not break down the critical level of 119.0 during the correction period, the pair is likely to continue to decline to the levels of 115.50 – 113.80. 

 

USD/СAD Wave analysis and forecast of 21.11 – 28.11: The pair is likely to decline.
Estimated pivot point is at the level of 1.1367.

Our opinion: Sell the pair from correction below the level of 1.1367 with the target of 1.1120.

Alternative scenario: Breakout and consolidation of the price above the level of 1.1367 will enable the pair to continue the rise up to the levels of 1.1464 – 1.1570.

Analysis: Presumably, the formation of the “bearish” correction in the fourth wave (4) of the senior level continues. Locally it seems that the third wave of the junior level iii of A is being formed, within which the pair can decline and momentum as the wave (iii) of iii can develop. If this assumption is correct and the price does not break down the critical level of 1.1367, the pair will continue to decline to the level of 1.1120.