Wave analysis and forecast for 10.11.2017 – 17.11.2017

EUR/USD Wave analysis and forecast for 10.11 – 17.11: downtrend continues. Estimated pivot point is at the level of 1.1686. Analysis: supposedly, a descending correction in the 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 a local correction in the form of the wave (iv) of junior level finishing inside. If the presumption is correct, the pair will continue to drop to the levels 1.1530 – 1.1470. The level 1.1686 may be critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.1686 will allow the pair to continue rising to a level of 1.1837. Main scenario: short positions will be relevant from corrections below the level of 1.1686 with a target of 1.1530 – 1.1470.

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GBP/USD Wave analysis and forecast for 10.11 – 17.11: downtrend continues. Estimated pivot point is at the level of 1.3321. Analysis: supposedly, a descending correction of senior level in the form of the wave (2) continues to form within the 4-hour time frame. Apparently, the wave C of (2) is developing locally, with an ascending correction of junior level ii of C forming inside. If the presumption is correct, the pair may be expected to continue falling to the level of1.2810 once the correction has finished. The level 1.3321 is critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.3321 will allow the pair to continue rising to a level of 1.3418. Main scenario: short positions will be relevant from corrections below the level of 1.3321 with a target of 1.2810.

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USD/CHF Wave analysis and forecast for 10.11 – 17.11: uptrend continues. Estimated pivot point is at the level of 0.9887. Analysis: supposedly, an ascending correction of senior level in the form of the wave (2) continues to develop within the 4-hour time frame. Apparently, the wave C of (2) is developing locally, with a descending correction of junior level in the form of the wave iv of C forming inside. If the assumption is correct, the pair will continue rising to the levels 1.0037 – 1.0100 once the correction has finished. The level 0.9887 may be critical in this scenario. Alternative scenario: breakout and consolidation below the level of 0.9887 will allow the pair to continue declining to the levels at 0.9850 – 0.9800. Main scenario: long positions will be relevant from corrections above the level of 0.9887 with a target of 1.0037 – 1.0100.

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USD/JPY Wave analysis and forecast for 10.11 – 17.11: the pair is under correction with probability of decline. Estimated pivot point is at the level of 114.72. Analysis: supposedly, an uptrend continues developing within the wave C of senior level. Apparently, the first wave i of C has been formed and a downward correction is developing as the wave ii of C. If the assumption is correct, the price will continue falling to the levels 111.90 – 111.00. The level 114.72 is critical in this scenario. Alternative scenario: breakout and consolidation above the level of 114.72 will allow the pair to continue the rise up to the levels of 116.00 – 117.00. Main scenario: short positions will be relevant from corrections below the level of 114.72 with a target of 111.90 – 111.00.

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USD/CAD Wave analysis and forecast for 10.11 – 17.11: the pair is under correction with the probability of growth. Estimated pivot point is at the level of 1.2441. Analysis: supposedly, the first wave i continues forming within the fifth wave (5) of senior level within the 4-hour time frame. The third wave (iii) of i of junior level has been formed and a downward correction (iv) of i is developing now. If the presumption is correct, after correction, the price will continue to rise to the levels 1.3000 – 1.3130. The level 1.2441 is critical in this scenario. Alternative scenario: breakout and consolidation below the level of 1.2441 will allow the pair to continue declining to a level of 1.2064. Main scenario: long positions will be relevant above the level of 1.2441 with a target of 1.3000 – 1.3130 once the correction has finished.

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