wave analysis and forecast of 03.07 – 10.07

EUR/USD Wave analysis and forecast of 03.07 – 10.07: The pair is likely to grow.
Estimated pivot point is at a level of 1.0944.

Our opinion: Sell the pair from correction above the level of 1.0940 with the target of 1.15 – 1.17. In case of breakdown of the level of 1.0940 sell the pair with the target of 1.08 – 1.07.

Alternative scenario: Breakout of the level of 1.0944 and consolidation below this level will enable the price to continue decline to 1.08 – 1.07.

Analysis: Presumably, formation of the fifth wave continues within the upward wedge. Locally, it is likely that the “bearish” correction of the junior level as the wave (ii) of v has completed and a small one-two impetus I has been formed within the third wave (iii) of v. If this assumption is correct, the pair can soon continue to rise to the levels of 1.14 – 1.15. Critical level for this scenario is 1.0944. Breakdown of this level will enable continuation of the bearish correction up to 1.08 – 1.07.



GBP/USD Wave analysis and forecast of 03.07 – 10.07: Correction is nearing completion; the pair is likely to grow.
Estimated pivot point is at a level of 1.5157.

Our opinion: Wait for the completion of the correction and in case of the upward one-two impetus, buy the pair with the target of 1.60 – 1.63.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.5157 will enable the pair to continue decline to 1.45.

Analysis: Presumably, the development of the wave С of 2 continues in the upward “bullish” correction of the senior level. At the moment it is likely that the formation of the first wave i of C has completed and the local correction as the second wave ii of C is being formed. If this assumption is correct, after the completion of the correction the pair can continue to rise up to 1.64.



USD/CHF Wave analysis and forecast for 03.07 – 10.07: The pair is likely to grow.
Estimated pivot point is at a level of 0.9238.
Our opinion: Buy the pair from correction above the level of 0.9238 with the target of 0.9840 – 1.00. In case of breakdown of the level of 0.9238, sell the pair with the target of 0.91 – 0.90.

Alternative scenario: Breakout and consolidation of the price below the level of 0.9238 will enable the pair to continue the decline to 0.91 – 0.90.

Analysis: Presumably, the formation of the third wave of the senior level iii continues; within this wave the one-two impetus (i) of iii of 3 has been formed, as well as the correction (ii) of iii. Given that this guess is true, we can expect that the third wave (iii) of iii of the junior level is being developed with the target level of 0.9840. The critical level for this scenario is the completion level of the second wave (ii) – 0.9238.



USD/JPY Wave analysis and forecast of 03.07 – 10.07: A chance of decline in the pair remains.
Estimated pivot point is at a level of 124.34.

Our opinion: Sell the pair from correction below the level of 124.34 with the target of 120.35 - 119.00. In case of breakdown of the level of 124.38 buy the pair with the target of 126.00

Alternative scenario: Breakdown and consolidation of the price above the level of 124.34 will enable the pair to continue the rise up to 126.00 – 127.00.

Analysis: Presumably, the formation of the third wave of the senior level continues on the four-hour timeframe. Locally, it is likely that the formation of the upward correction as the wave (ii) has completed. If this assumption is correct, the pair is likely to decline to 120.35. Critical level for this scenario is 124.34. Breakdown of this level will trigger the rise in the pair. 



USD/СAD Wave analysis and forecast of for 03.07 – 10.07: Uptrend prevails.
Estimated pivot point is at a level of 1.2419.

Our opinion: Buy the pair from correction above the level of 1.2419 with the target of 1.2830. In case of breakdown of the level of 1.2419, sell the pair with the target of 1.22 – 1.21.

Alternative scenario: Breakout and consolidation of the price below the level of 1.2419 will enable the pair to continue the decline to the levels of 1.22 – 1.21.

Analysis: Presumably, the formation of third wave of the senior level iii of 5 continues. Locally, it is likely that the “bullish” impetus is being formed as the third wave of the junior level (iii) of iii. If this assumption is correct, the pair will continue to rise to 1.28. Critical level for this scenario is 1.2419. Breakdown of this level will lead to the decline in the pair to 1.22 – 1.21.