Estimated pivot point is at a level of 1.0520.
Our opinion: Buy the pair from correction above the level of 1.0520 with the target of 1.15 – 1.20.
Alternative scenario: Breakout and consolidation of the price below the level of 1.0520 will trigger the decline in the pair to the levels of 1.0450 – 1.04.
Analysis: The formation of the “bearish” correction as the wave 2 has completed. At the moment, it is likely that the third wave 3 is being developed, in which the first wave i of 3 is being formed. If this assumption is correct and the price does not break down the critical level of 1.0520, the pair will continue to rise up to the levels of 1.15 – 1.20.
GBP/USD Wave analysis and forecast for 11.12 – 18.12: The pair is likely to rise.
Estimated pivot point is at a level of 1.4950.
Our opinion: Buy the pair from the correction above the level of 1.4950 with the target of 1.5330 – 1.55.
Alternative scenario: Breakout and consolidation of the price below the level of 1.4950 will trigger the decline in the pair to 1.4800 – 1.4750.
Analysis: Presumably, the formation of the large “bearish” correction has completed in the wave B of 2, and the wave C of the senior level is being developed. Locally, it is likely that one-two wedge as the wave (i) is being developed. If this assumption is correct and the price does not break down the critical level of 1.4950, the pair can continue to rise to the levels of 1.5330 – 1.55.
USD/CHF Wave analysis and forecast for 11.12 – 18.12: A chance of decline in the pair remains.
Estimated pivot point is at a level of 1.0329.
Our opinion: Sell the pair from correction below the level of 1.0329 with the target of 0.95.
Alternative scenario: Breakout and consolidation of the price above the level of 1.0329 will enable the rise in the pair to the levels of 1.04 – 1.05.
Analysis: Presumably, the correction as the wave 2 is being formed on the daily timeframe, which is likely to take shape of the irregular plane. At the moment, it is likely that one-two impetus of the junior level (i) has been formed in the wave С of 2. If this assumption is correct and the price does not break down the critical level of 1.0329, after the completion of the local correction the pair will continue to decline to the level of 0.95.
USD/JPY Wave analysis and forecast for 11.12 – 18.12: The pair is likely to decline.
Estimated pivot point is at a level of 123.47.
Our opinion: Sell the pair from correction below the level of 123.47 with the target of 120.00 – 117.00. In case of breakdown of the level of 123.47 buy the pair with the target of 124.50.
Alternative scenario: Breakout and consolidation of the price above the level of 123.47 will enable the pair to continue the rise up to the level of 124.50.
Analysis: Presumably, the formation of the upward impetus in the wave c of B of 4 has completed. At the moment, it seems that the wave C of the senior level is being formed, within which one-two impetus is likely to be developed. If this assumption is correct and the price does not break down the critical level of 123.47, the pair will continue to fall to the levels of 120.00 – 117.00.
USD/СAD Wave analysis and forecast for 11.12 – 18.12: Uptrend continues.
Estimated pivot point is at a level of 1.3437.
Our opinion: Buy the pair from correction above the level of 1.3437 with the target of 1.38 – 1.39.
Alternative scenario: Breakout and consolidation of the price below the level of 1.3437 will enable the pair to continue decline to the levels of 1.30 - 1.28 within the correction of the senior level.
Analysis: Presumably, the formation of the upward momentum continues in the fifth wave of the senior level within the daily timeframe. Locally, it is likely that the “bullish” momentum as the fifth wave v of 5 of the junior level is being formed, with the target level of 1.3878. If this assumption is correct and the price does not break down the critical level of 1.3437, the pair will continue to rise.
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