Estimated pivot point is at a level of 1.1280.
Our opinion: Sell the pair from correction below the level of 1.1280 with the target of 1.0950. In case of breakdown of the level of 1.1280 buy the pair with the target of 1.1460 - 1.17.
Alternative scenario: Breakout and consolidation above the level of 1.1280 will enable the pair to continue to rise up to 1.1460 - 1.17.
Analysis: Presumably, the formation of the correction within the second wave 2 of the senior level continues, within which a double zigzag wxy is being formed. Locally, it is likely that the wave y of 2 is being developed in the shape of the zigzag, within which, the decline to the level of 1.0950 is expected. Critical level for this scenario is 1.1280. Breakout of this level will enable the price to continue to rise up to 1.1460 - 1.17.
GBP/USD Wave analysis and forecast of : The pair is likely to rise.
Estimated pivot point is at a level of 1.5240.
Our opinion: Buy the pair after the breakdown of the level 1.5240 with the target of 1.58 – 1.59.
Alternative scenario: Breakout and consolidation of the price below the level of 1.5064 will enable the pair to continue to decline to 1.49 – 1.48.
Analysis: Presumably, the formation of the senior level correction is nearing completion in the wave В of (2), which took a shape of the irregular plane with the developing final wave c of B. Locally, it is likely that the formation of the final fifth wave (v) of c of B is nearing completion. If this assumption is correct the price can reverse in the near future and start to rise in the wave С of (2).
USD/CHF Wave analysis and forecast for : The decline in the pair is likely to continue.
Estimated pivot point is at a level of 0.9840.
Our opinion: Sell the pair below the level of 0.9840 with the target of 0.9130. In case of breakdown of the level of 0.9840 buy the pair with the target of 1.0130.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9840 will enable the pair to rise up to 1.0 – 1.0130.
Analysis: Presumably, the formation of the wave C continues in the second 2 wave of the senior level. . Locally, it seems that the correction as the second wave (ii) of the junior level has completed. If this assumption is correct and the price does not break down the critical level of 0.9840, the pair will continue to decline to the level of 0.9130 in the third wave (iii) of the estimated diagonal in the wave C.
USD/JPY Wave analysis and forecast of : The pair is likely to decline.
Estimated pivot point is at a level of 121.25.
Our opinion: Sell the pair from correction below the level of 121.25 with the target of 115.00 – 114.00. In case of breakdown of the level of 121.25 buy with the target of 124.00.
Alternative scenario: Breakout and consolidation of the price above the level of 121.25 can trigger the rise in the up to the levels of 123.00 – 124.00.
Analysis: Presumably, the formation of the triangle within the wave of A of (4) of the estimated zigzag has completed. Locally it is likely that the one-two impetus as the wave (i) of c has been formed. If this assumption is correct, after the completion of the correction (ii) the pair will continue to decline to the estimated target of 115.00. Critical level for this scenario is 121.25.
USD/СAD Wave analysis and forecast of for : The pair is undergoing correction, the rise in the pair is likely to continue.
Estimated pivot point is at a level of 1.3015.
Our opinion: Buy the pair from correction above the level of 1.3015 with the target of 1.3550 – 1.36. In case of breakdown of the level of 1.3015, sell the pair with the target of 1.2480.
Alternative scenario: Breakout and consolidation of the price below the level 1.3015 will enable the pair to continue to decline to the level of 1.2480.
Analysis: Presumably, the formation of the upward impetus in the third wave of the senior level (3) continues. Locally it is likely that the fifth final wave v of 5 of (3) is being developed and within it the first wave (i) has been formed and the correction is being developed (ii). If this assumption is correct, after the completion of the correction, the pair will continue to rise up to 1.3550 – 1.36. Critical level for this scenario is 1.3015. Breakdown of this level will trigger the decline in the pair to the levels of 1.2480.
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