Estimated pivot point is at a level of 1.1250.
Our opinion: Buy the pair at the breakout of the level of 1.1250 with a target at 1.1850 – 1.20.
Alternative scenario: Breakout of the level 1.1250 and consolidation above will allow the pair to continue the rise up to levels 1.1850 – 1.20.
Analysis: A bearish correction in a form of the second wave ii within the third wave of senior level 3 is supposed to continue forming. Apparently, the wave (c) is forming locally, with an impetus targeted at about 1.10 developing within. If the presumption is correct, after correction, the pair will continue to grow to the levels 1.1850 – 1.20. The level of 1.1250 is critical in this scenario as the breakout would confirm the completion of correction and allow the pair to continue growing.
GBP/USD Wave analysis and forecast of 04.09 – 11.09: Downward correction is nearing completion.
Estimated pivot point is at a level of 1.5438.
Our opinion: Buy with a target at 1.5822 once the level of 1.5438 is broken.
Alternative scenario: Breakout and consolidation above the level of 1.5438 will allow the pair to continue the rise up to the levels of 1.58 – 1.60.
Analysis: A big correction of senior level is supposed to be nearing completion within the wave X, currently shaped like a plane. Apparently, an impetus is forming locally, within the wave c of X, with the third wave of junior level (iii) completed inside. If the assumption is correct, the pair would continue declining to the levels 1.52 – 1.5180. The level of 1.5438 is critical in this scenario as the breakout will confirm the completion of correction.
USD/CHF Wave analysis and forecast for 04.09 – 11.09: The pair is expected to decline.
Estimated pivot point is at a level of 0.9896.
Our opinion: Sell the pair from corrections below the level of 0.9896 with a target at . Buy the pair with a target of 1.0 – 1.10 in case the level at 0.9896 is broken.
Alternative scenario: Breakdown and consolidation above the level of 0.9896 will allow the pair to continue the rise up to the levels of 1.0 – 1.10.
Analysis: Supposedly, the wave C continues to form within the second wave (2) of senior level . Apparently, the first wave (i) has been formed locally as a zigzag, and the correction in a form of the second wave (ii) is nearing completion. If the assumption is correct, the pair will continue declining to the levels as part of the third wave (iii) of a prospective diagonal in the wave C. The local maximum level at 0.9896 is critical in this scenario.
USD/JPY Wave analysis and forecast of 04.09 – 11.09: The pair is expected to decline.
Estimated pivot point is at a level of 120.75.
Our opinion: Sell the pair below the level of 120.75. with a target at 115.00 – 114.00.
Alternative scenario: Breakout and consolidation above the level of 120.75 will allow the pair to continue the rise up to the levels of 124.00 – 125.00.
Analysis: Apparently, a big bearish correction in a form of the fourth wave (4) continues to develop. Apparently, the first wave А of (4) is forming locally, and a zigzag is expected to form within. If the assumption is correct, the pair would continue declining in the wave c of A to about 115.00. The level of 120.75 is critical in this scenario.
USD/СAD Wave analysis and forecast of for 04.09 – 11.09: The pair is expected to fall due to correction.
Estimated pivot point is at a level of 1.3324.
Our opinion: Sell the pair from corrections below the level of 1.3324 with a target at 1.2935.
Alternative scenario: Breakout and consolidation above the level of 1.3324 will allow the pair to continue rising to a level of 1.35.
Analysis: Supposedly, the formation of an ascending impetus within the third wave of senior level (3) is completed. Apparently, a small counter-trend impetus in a form of the first wave (i) is forming locally. If the presumption is correct, the pair will logically continue to drop to a level of 1.2935. The level of 1.3324 is critical in this scenario as the breakout will make the pair grow further to about 1.35.
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