Wave analysis and forecast for 27.01 – 03.02

EUR/USD Wave analysis and forecast for 27.01 – 03.02: The pair is likely to decline. Estimated pivot point is at the level of 1.0770. Our opinion: Sell the pair from correction below the level of 1.0770 with the target of 1.0450 – 1.0350. Alternative scenario: Breakout and consolidation of the price above the level of 1.0770 may trigger further rise in the pair up to 1.0800 - 1.0856. Analysis: Presumably, the formation of the upward correction as the fourth wave of the senior level, has completed. Locally it seems that the downward one-two impetus as the first wave of the junior level (i) is being formed. If this assumption is correct, the pair will continue to decline to 1.0450 – 1.0350. Critical level for this scenario is 1.0770.

GBP/USD Wave analysis and forecast for 27.01 – 03.02: The pair is likely to decline. Estimated pivot point is at the level of 1.2667. Our opinion: Sell the pair from correction below the level of 1.2667 with the target of 1.2248 – 1.1984. Alternative scenario: Breakout and consolidation of the price above the level of 1.2667 will trigger further rise in the pair to 1.28 – 1.29. Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the first wave as the wedge i of 5 has been formed and the upward correction as the wave ii of 5 is being developed, within which the zigzag (a)(b)(с) has been formed. If this assumption is correct, the pair may continue to decline to 1.2248 – 1.1984 in the third wave iii of 5 (b). Critical level for this scenario is 1.2667.

USD/CHF Wave analysis and forecast for 27.01 – 03.02: The pair is likely to rise. Estimated pivot point is at the level of 0.9960. Our opinion: Buy the pair from correction above the level of 0.9960 with the target of 1.0200 - 1.0320. Alternative scenario: Breakdown and consolidation of the price below the level of 0.9960 will trigger further decline in the pair to 0.9850. Analysis: Presumably, the formation of the downward correction, as the wave 2, which has taken a shape of a zigzag with a diagonal line in the wave c of 2, has completed. Locally, it is likely that the fifth wave (v) of c is being developed. If this assumption is correct, the pair may resume the rise up to 1.0200 - 1.0320. Critical level for this scenario is 0.9960.

USD/JPY Wave analysis and forecast for 27.01 – 03.02: Downtrend continues. Estimated pivot point is at the level of 116.21. Our opinion: Sell the pair from correction below the level of 116.21 with the target of 112.45 – 111.58. Alternative scenario: Breakout and consolidation of the price above the level of 116.21will trigger further rise to 118.42. Analysis: Presumably, the formation of the wave (С) continues, within which the first wave has been formed. Locally, it is likely that the upward correction as the wave ii is being formed, within which a wave (с) is developing. If this assumption is correct, after the completion of the correction, the pair may go down to 112.45 – 111.58. Critical level for this scenario is 116.21.

USD/CAD Wave analysis and forecast for 27.01 – 03.02: Downtrend continues. Estimated pivot point is at the level of 1.3160. Our opinion: Sell the pair from correction below the level of 1.3160 with the target of 1.3018. Alternative scenario: Breakout and consolidation of the price above the level of 1.3160 will trigger further rise in the pair up to 1.3240 – 1.3310. Analysis: Presumably, the formation of the wave C of the senior level continues. Locally it is likely that the upward correction ii of C has been developed and the third wave iii of C is being formed, within which impetus (i) is being developed. If this assumption is correct, the pair may continue to decline to 1.3180 – 1.3018. Critical level for this scenario is 1.3160. After breaking out this level, the pair will continue to rise up to 1.3240 – 1.3310.