Estimated pivot point is at a level of 1.0890.
Our opinion: Buy the pair from correction above the level of 1.0890 with the target of 1.15.
Alternative scenario: Breakout and consolidation of the price below the level of 1.0890 will enable the pair to continue decline to 1.08 – 1.07.
Analysis: Presumably, the formation of the correction, as the second wave 2 of the senior level in the shape of the plane qbc, has completed. Locally it is likely that the “bearish” impetus has completed in the wave c of 2. If this assumption is correct, the pair can rise to the level of 1.15 in the one-two wave of the junior level. Critical level for this scenario is 1.0890.
GBP/USD Wave analysis and forecast for 30.10 – 06.11: The pair is likely to grow.
Estimated pivot point is at a level of 1.5100.
Our opinion: Buy the pair from correction above the level 1.5100 with the target of 1.56 – 1.58.
Alternative scenario: Breakout and consolidation of the price below the level of .5100 will enable the pair to continue decline to 1.50 – 1.4950.
Analysis: Presumably, the formation of wave С of 2 of the senior level continues. Within this wave the one-two wave (i), in the shape of the wedge, has completed, as well as the “bearish” correction as the wave (ii). If this assumption is correct, the pair will continue to grow up to the levels of 1.56 – 1.58. Critical level for this scenario is 1.5100.
USD/CHF Wave analysis and forecast for 30.10 – 06.11: The pair is likely to decline.
Estimated pivot point is at a level of 0.9813.
Our opinion: Sell the pair after breakdown and consolidation below the level of 0.9813 with the target of 0.9470.
Alternative scenario: The rise in the pair up to 1.00 in the wave В.
Analysis: On the daily timeframe a long-term correction in the second wave 2 is being formed. At the moment, it seems that the pair has resumed the rise in the final wave (с) in the double triple wxy, within the wave В of 2 of the senior level. If this assumption is correct, after breakdown of the level of 0.9813 the pair will start to decline to the level of 0.95 in the wave С оf 2.
USD/JPY Wave analysis and forecast for 30.10 – 06.11: Short-term uptrend continues.
Estimated pivot point is at a level of 120.00.
Our opinion: Buy the pair from correction above the level of 120.00 with the target of 123.25. In case of breakdown of the level of 120.00, sell with the target of 117.00 – 116.00.
Alternative scenario: Breakout and consolidation of the price below the level of 120.00 will enable the pair to continue decline to the levels of 117.00 – 116.00.
Analysis: Presumably, the formation of the large bearish correction as the fourth wave (4) continues. At the moment, it seems that the wave B is being formed, within which the wave of the junior level c of B of (4) is developing. If this assumption is correct and the price does not break down the critical level of 120.00, the pair can continue to rise up to the level of 123.25.
USD/СAD Wave analysis and forecast for 30.10 – 06.11: The pair is likely to decline.
Estimated pivot point is at a level of 1.3278.
Our opinion: Sell the pair from correction below the level of 1.3278 with the target of 1.2710.
Alternative scenario: Breakout and consolidation of the price above the level of 1.3278 will enable the pair to continue the rise up to the levels of 1.34 - 1.3650.
Analysis: The formation of the large “bearish” correction continues, as the fourth wave (4). At the moment it is likely that the wave А of (4) is being formed as a zigzag, in which the correction as the wave x seems to be completing. If this assumption is correct, the pair will continue to decline to the level of 1.2710 in the wave y of A. Critical level for this scenario is 1.3278. Breakdown of this level will trigger the rise in the pair up to 1.34 – 1.3650.
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