Wave analysis and forecast for 27.10.2017 – 03.11.2017

EUR/USD Wave analysis and forecast for 27.10 – 03.11: downtrend continues. Estimated pivot point is at the level of 1.1723. Analysis: supposedly, a descending correction in a form of the wave (2) continues to form within the 4-hour time frame, with the wave A developing inside. Apparently, the fifth wave v of A is developing at the moment, with the wave (iii) of junior level forming inside. If the presumption is correct, the pair will continue to drop to the levels 1.1580 – 1.1470. The level 1.1723 may be critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.1723 will allow the pair to continue rising to a level of 1.1837. Our opinion: short positions will be relevant from corrections below the level of 1.1723 with a target of 1.1580 – 1.1470.

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GBP/USD Wave analysis and forecast for 27.10 – 03.11:: downtrend continues. Estimated pivot point is at the level of 1.3275. Analysis: supposedly, a descending correction of senior level in a form of the wave (2) continues to form within the 4-hour time frame. Apparently, the wave C of (2) is developing locally, with the third wave of junior level iii of C developing inside. If the presumption is correct, the pair may be expected to continue falling to the level of 1.2810. The level 1.3275 is critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.3275 will allow the pair to continue rising to a level of 1.3418. Our opinion: short positions will be relevant from corrections below the level of 1.3275 with a target of 1.2810.

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USD/CHF Wave analysis and forecast for 27.10 – 03.11: uptrend continues. Estimated pivot point is at the level of 0.9875. Analysis: supposedly, an ascending correction of senior level in a form of the wave (2) continues to develop within the 4-hour time frame. Apparently, the wave C of (2) is developing locally, with an extension of wave structure in the third wave iii of C forming inside. If the assumption is correct, the pair will continue growing to the level of 1.0100. The level 0.9875 is critical in this scenario. Alternative scenario: breakout and consolidation below a level of 0.9875 will allow the pair to continue declining to the levels 0.9830 – 0.9735. Our opinion: long positions will be relevant from corrections above the level of 0.9875 with a target of 1.0100.

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USD/JPY Wave analysis and forecast for 27.10 – 03.11: uptrend continues. Estimated pivot point is at the level of 113.33. Analysis: supposedly, an uptrend continues developing within the wave C of senior level. Apparently, the third wave iii of C is forming now, with the wave (iii) of junior level developing within. If the presumption is correct, the price will continue to rise to the levels of 115.00 – 116.00. The level 113.33 is critical in this scenario. Alternative scenario: breakout and consolidation below the level of 113.33 will allow the pair to continue declining to a level of 111.60. Our opinion: long positions will be relevant above the level of113.33 with a target of 115.00 – 116.00.

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USD/CAD Wave analysis and forecast for 27.10 – 03.11: uptrend continues. Estimated pivot point is at the level of 1.2773. Analysis: Supposedly, the first wave i continues forming within the fifth wave (5) of senior level within the 4-hour time frame. Apparently, a bullish impetus is developing within the wave (iii). If the presumption is correct, the pair will continue rising to a level of 1.3130 and higher. The level 1.2600 may be critical in this scenario. Alternative scenario: breakout and consolidation below the level of 1.2773 will allow the pair to continue declining to a level of 1.2600. Our opinion: long positions will be relevant above the level of1.2773 with a target of 1.3130.

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Wave analysis and forecast for 20.10.2017 – 27.10.2017

EUR/USD Wave analysis and forecast for 20.10 – 27.10: the price is still likely to fall. Estimated pivot point is at the level of 1.1880. Analysis: supposedly, a descending correction continues to develop within the 4-hour time frame in a form of the wave (2) . Apparently, the wave A of (2) is developing at the moment, with the fifth wave A of (5) forming inside. If the assumption is correct, the pair will continue falling to the level of 1.1600. The level 1.1880 may be critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.1880 will allow the pair to continue rising to a level of 1.2000. Our opinion: short positions will be relevant below the level of1.1880 with a target of 1.1600.

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GBP/USD Wave analysis and forecast for 20.10 – 27.10: : the pair is still likely to fall. Estimated pivot point is at the level of 1.3336. Analysis: the first wave (1) of senior level is supposed to have finished forming within the 4-hour time frame. supposedly, a downward correction (2) is forming at the moment. Apparently, the wave С of (2) is developing locally. If this assumption is correct, the pair will continue to drop to 1.2810. The level 1.3336 is critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.3336 will allow the pair to continue rising to a level of 1.3660. Our opinion: short positions will be relevant from corrections below the level of 1.3336 with a target of 1.2810.

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USD/CHF Wave analysis and forecast for 20.10 – 27.10: the pair resumed growth. Estimated pivot point is at the level of 0.9734. Analysis: supposedly, an ascending correction of senior level in a form of the wave (2) continues to develop within the 4-hour time frame. Apparently, the wave B of (2) has been formed locally and the wave C of (2) is developing, with the wave iii of C forming inside. If the presumption is correct, the pair will continue growing to the levels 0.9875 – 0.9983. The level 0.9734 is critical in this scenario. Alternative scenario: breakout and consolidation below the level of 0.9734 will allow the pair to continue declining to the levels 0.9675 – 0.9625. Our opinion: long positions will be relevant from corrections above the level of 0.9734 with a target of 0.9875 – 0.9983.

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USD/JPY Wave analysis and forecast for 20.10 – 27.10: uptrend continues. Estimated pivot point is at the level of 111.60. Analysis: supposedly, the wave C of senior level continues developing, with the first wave i of C formed and the local correction ii of C completed inside. Apparently, the third wave iii of C has just started forming, with the wave (i) formed within. If the presumption is correct, the price will continue to rise to the levels of 115.00 – 116.00. The level 111.60 is critical in this scenario. Alternative scenario: breakout and consolidation below the level of 111.60 will allow the pair to continue declining to a level of 110.35. Our opinion: long positions will be relevant above the level of111.60 with a target of 115.00 – 116.00.

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USD/CAD Wave analysis and forecast for 20.10 – 27.10: the pair is likely to grow. Estimated pivot point is at the level of 1.2448. Analysis: supposedly, the first wave i continues forming within the fifth wave (5) of senior level within the 4-hour time frame. Apparently, a downward correction (ii) has just finished. If the presumption is correct, the pair will continue growing to the levels1.2780 – 1.2930 within the third wave (iii). The level 1.2448 is critical in this scenario. Alternative scenario: breakout and consolidation below the level of 1.2448 will allow the pair to continue declining to a level of 1.2330. Our opinion: long positions will be relevant above the level of1.2448 with a target of 1.2780 – 1.2930.

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