Wave analysis and forecast for 03.02.17 – 10.02.17

EUR/USD Wave analysis and forecast for 03.02 – 10.02: The pair is likely to decline. Estimated pivot point is at the level of 1.0824. Our opinion: Sell the pair from correction below the level of 1.0824 with the target of 1.0616. Alternative scenario: Breakout and consolidation of the price above the level of 1.0824 may trigger further rise in the pair up to 1.0856 - 1.0972. Analysis: Presumably, the formation of the upward correction, as the fourth wave 4 of the senior level, has completed. Locally it seems that the fifth wave is being developed, within which a minor one-two impetus I has been formed. If this assumption is correct, the pair will continue to decline to 1.0616 - 1.0455. Critical level for this scenario is 1.0824.

GBP/USD Wave analysis and forecast for 03.02 – 10.02: The pair is likely to decline. Estimated pivot point is at the level of 1.2702. Our opinion: Sell the pair from correction below the level of 1.2702 with the target of 1.2248 – 1.1984. Alternative scenario: Breakout and consolidation of the price above the level of 1.27021 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 formation of the upward correction as the wave ii of 5 has completed and the minor one-two impetus has been formed. If this assumption is correct, the pair may continue to decline to 1.2248 – 1.1984. Critical level for this scenario is 1.2702.

USD/CHF Wave analysis and forecast for 03.02 – 10.02: The pair is likely to rise. Estimated pivot point is at the level of 0.9864. Our opinion: Buy the pair from correction above the level of 0.9864 with the target of 1.0044 - 1.0198. Alternative scenario: Breakdown and consolidation of the price below the level of 0.9864 will trigger further decline in the pair to 0.9790. Analysis: Presumably, the formation of the downward correction, as the wave 2, which has 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 has completed. If this assumption is correct, the pair may resume the rise up to 1.0044 - 1.0198. Critical level for this scenario is 0.9864.

USD/JPY Wave analysis and forecast for 03.01 – 10.02: Downtrend continues. Estimated pivot point is at the level of 113.91. Our opinion: Sell the pair from correction below the level of 113.91 with the target of 110.40. Alternative scenario: Breakout and consolidation of the price above the level of 113.91 will trigger further rise to 115.42. Analysis: Presumably, the formation of the wave (С) continues, within which the third wave iii of 1 of C is being formed. Locally, it is likely that the third wave of the junior level (iii) is being formed. If this assumption is correct the pair may decline to 110.41. Critical level for this scenario is 113.91. After breaking out this level the pair may continue to go up to 115.42, as part of the correction.

USD/CAD Wave analysis and forecast for 03.02 – 10.02: Downtrend dominates. Estimated pivot point is at the level of 1.3100. Our opinion: Sell the pair from correction below the level of 1.3100 with the target of 1.2809. Alternative scenario: Breakout and consolidation of the price above the level of 1.3100 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 the third wave of the junior level (iii) is being formed. If this assumption is correct, the pair may continue to decline to 1.2809. Critical level for this scenario is 1.3100. After breaking out this level, the pair will continue to rise up to 1.3240 – 1.3310 in the deep correction.