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. |
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. |
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. |
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. |
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. |
The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. The main participants in this market are the larger international banks. Financial centres around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.
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Saturday, October 21, 2017
Wave analysis and forecast for 20.10.2017 – 27.10.2017
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