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. |
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. |
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. |
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. |
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. |
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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Friday, October 27, 2017
Wave analysis and forecast for 27.10.2017 – 03.11.2017
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