Wave analysis and forecast for 17.11.2017 – 24.11.2017

EUR/USD Wave analysis and forecast for 17.11 – 24.11: the pair is under correction with probability of growth. Estimated pivot point is at the level of 1.1750. Analysis: a descending correction is supposed to continue developing within 4-hour frame in the form of the wave (2), with the wave A formed and an ascending correction in the form of the wave B developing inside. Apparently, an ascending impetus is now developing in the wave a of B. If the presumption is correct, the price will continue rising to the levels of 1.1900 – 1.2000. The level 1.1750 may be critical in this scenario. Alternative scenario: breakout and consolidation below the level of 1.1750 will allow the pair to continue declining to a level of 1.1480. Main scenario: long positions will be relevant from corrections above the level of 1.1750 with a target of 1.1900 – 1.2000.

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GBP/USD Wave analysis and forecast for 17.11 – 24.11: the price is still likely to fall. Estimated pivot point is at the level of 1.3326. 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 nearing completion inside. If the presumption is correct, the pair may be expected to continue falling to the level of 1.2930 once the correction has finished. The level 1.3326 is critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.3326 will allow the pair to continue rising to a level of 1.3420. Main scenario: short positions will be relevant from corrections below the level of 1.3326 with a target of 1.2930.

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USD/CHF Wave analysis and forecast for 17.11 – 24.11: the pair is likely to continue falling. Estimated pivot point is at the level of 1.0027. Analysis: supposedly, an ascending correction in the form of the wave (2) of senior level has stopped developing within the 4-hour time frame. Apparently, the third wave (3) has started forming, with the first wave of junior level i of 1 of (3) formed and an ascending correction of junior level ii of 1 developing inside. If the presumption is correct, the pair will continue to fall to the level of 0.9727 once the correction has been completed. The level 1.0027 is critical in this scenario. Alternative scenario: breakout and consolidation above the level of 1.0027 will allow the pair to continue rising to a level of 1.0100. Main scenario: short positions will be relevant from corrections below the level of 1.0027 with a target of 0.9727.

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USD/JPY Wave analysis and forecast for 17.11 – 24.11: the pair is under correction with probability of decline. 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 first wave i of C has been formed and a downward correction is developing as the wave ii of C, with a descending impetus forming in the wave (c) of ii. If the presumption is correct, the price will continue falling to the levels of 111.90 – 111.00. The level 113.33 is critical in this scenario. Alternative scenario: breakout and consolidation above the level of 113.33 will allow the pair to continue rising to a level of 114.74. Main scenario: short positions will be relevant from corrections below the level of 113.33 with a target of 111.90 – 111.00.

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USD/CAD Wave analysis and forecast for 17.11 – 24.11: uptrend continues. Estimated pivot point is at the level of 1.2660. 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 (iv) of i has finished and the fifth wave (v) of i has started forming. If the presumption is correct, the price will continue to rise to the levels of 1.3000 – 1.3130. The level 1.2660is critical in this scenario. Alternative scenario: breakout and consolidation below the level of 1.2660 will allow the pair to continue declining to the levels of 1.2470 – 1.2064. Main scenario: long positions will be relevant above the level of 1.2660 with a target of 1.3000 – 1.3130.

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