wave analysis and forecast of 14.08 – 21.08

EUR/USD Wave analysis and forecast of 14.08 – 21.08: It is likely that the pair will continue to rise; locally the pair is in correction.
Estimated pivot point is at a level of 1.0840.

Our opinion: Buy the pair from correction above the level of 1.0840 with the target of 1.13 – 1.1435.

Alternative scenario: Breakout of the level of 1.0840 and consolidation below this level will trigger further decrease in price up to 1.07.

Analysis: Presumably, the third wave of the senior level 3 is being formed. Locally, it is likely that the first i of 3 is being formed, which might take a shape of a diagonal. If this assumption is correct, after a minor correction, the pair will continue to rise up to 1.13 – 1.14. Critical level for this scenario is 1.0840. Breakout of this level will enable the price to go down to 1.07.



GBP/USD Wave analysis and forecast of 14.08 – 21.08: The pair is likely to grow.
Estimated pivot point is at a level of 1.5420.

Our opinion: Buy the pair from correction above the level of 1.5420 with the target of 1.58 – 1.60.

Alternative scenario: Breakout and consolidation of the price below the level of 1.5420 will allow the pair to continue to decline to the level of 1.52.

Analysis: The pair is traded in the narrowing range, which is probably a corrective triangle in the wave B and the large upward correction. Locally, it seems that the one-two, one-two impetus of the junior level has been formed as the wave (i). If this assumption is correct, after the completion of the correction (ii), the pair will continue to rise up to 1.57 – 1.58. Critical level for this scenario is 1.5420. 



USD/CHF Wave analysis and forecast for 14.08 – 21.08: Uptrend continues ; locally, the pair is undergoing correction.
Estimated pivot point is at a level of 0.99.

Our opinion: Buy the pair from correction below the level of 0.99 with the target of 0.96. In case of breakdown of the level of 0.99, buy the pair with the target of 1.0 – 1.0100.

Alternative scenario: Breakout and consolidation of the price above the level of 0.99 will enable the pair to continue the rise up to 1.0 – 1.0100.

Analysis: Presumably, the formation of the third wave of the junior level iii of 3 has completed. Locally it is likely that the correction as the fourth wave is being developed to the level of 0.96 – 0.9540, within which one-two one-two impetus (a) has been formed. If this assumption is correct, after the completion of the small correction (b) the pair can continue to decline. Critical level for this scenario is the local highs of 0.99.



USD/JPY Wave analysis and forecast of 14.08 – 21.08: Uptrend continues.
Estimated pivot point is at a level of 123.00.

Our opinion: Buy the pair from correction above the level of 123.00 with the target of 127.50.

Alternative scenario: Breakout and consolidation of the price below the level of 123.00 will allow the pair to continue to decline to the level of 120.36.

Analysis: Presumably, the formation of the third wave (iii) continues; within this wave the first wave has been formed and at the moment the local correction as the wave ii of (iii) is also being formed. If this assumption is correct and the price does not break down the critical level of 123.00, then, after the completion of the correction the pair will continue to rise to the level of 127.50. In case of breakdown of the critical level, the pair will decline to the level of 120.36.



USD/СAD Wave analysis and forecast of for 14.08 – 21.08: Formation of the local correction.
Estimated pivot point is at a level of 1.3205.

Our opinion: In the short-term: sell the pair from correction below the level of 1.3205 with the target of 1.2785. In the medium-term: wait for the completion of the correction and buy the pair in case of the one-two one-toe impetus and confirming signals, with the target of 1.35 – 1.36.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3205 will allow the pair to continue to rise up to1.35 – 1.36.

Analysis: Presumably, the formation of the third wave of the senior level iii of 5 has completed. Locally, it seems that the development of the correction as the fourth wave iv is ongoing and within this wave the first wave (a) has been formed as a diagonal. If this assumption is correct, then, following the local correction in the wave (b), the pair will continue to decline to the level of 1.2785. Critical level for this scenario is 1.3205. Breakdown of this level will enable the pair to continue the rise.