EUR/USD
Correction for the pair EUR/USD continue. Estimated pivot point is at a level of 1.2209.
Main scenario: short positions will be relevant from corrections below the level of 1.2209 with a target of 1.2055 – 1.1937.
Alternative scenario: breakout and consolidation above the level of 1.2209 will allow the pair to continue rising to a level of 1.2414.
Analysis: supposedly, a horizontal correction in the form of the fourth wave (1) of senior level, currently shaped like a plane, continues developing within the 4-hour time frame. Apparently, a descending impetus is developing now as the wave С of (4), with the fifth wave v of C forming inside. If the presumption is correct, the pair will continue falling to the level 1.2055, or even lower. The level 1.2209 is critical in this scenario.
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The pair GBP/USD is still likely to fall Estimated pivot point is at a level of 1.4374.
Main scenario: short positions will be relevant from corrections below the level of 1.4374 with a target of 1.3687 – 1.3268.
Alternative scenario: breakout and consolidation above the level of 1.4374 will allow the pair to continue rising to a level of 1.4602.
Analysis: Supposedly, an ascending impetus in the form of the first wave (1) of senior level has stopped forming within the daily time frame. Apparently, a descending correction in the form of the wave (2) started developing locally, with a counter-trend impetus of junior level (i) formed inside. If the presumption is correct, the pair will continue to drop to the levels 1.3687 – 1.3268 after correction (ii). The level 1.4374 is critical in this scenario.
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Ascending trend for the pair USD/CHF continues Estimated pivot point is at a level of 0.9815.
Main scenario: long positions will be relevant from corrections above the level of 0.9815 with a target of 0.9960 – 1.0034.
Alternative scenario: breakout and consolidation below the level of 0.0.9815 will allow the pair to continue declining to a level of 0.9699.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) finished developing within the daily time frame and the wave (3) started forming. Apparently, an ascending impetus is forming now as the first wave 1 of (3), with the third wave of junior level (iii) of iii of 1developing inside. If the presumption is correct, the pair will continue to rise to levels 0.9960 – 1.0034. The level 0.9815 is critical in this scenario.
ВThe pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 107.81.
Main scenario: long positions will be relevant from corrections above the level of 107.81 with a target of 110.82 – 112.07.
Alternative scenario: breakout and consolidation below the level of 107.81 will allow the pair to continue declining to a level of 104.55.
Analysis: Supposedly, an ascending impetus continues to form as the first wave 1 of (C) within the 4-hour time frame. Apparently, the third wave of junior level iii of 1 is forming now. If this assumption is correct, the pair will continue to rise to 110.82 – 112.07. The level 107.81 is critical in this scenario.
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The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.2816.
Main scenario: long positions will be relevant from corrections above the level of 1.2816 with a target of 1.2939 – 1.3126.
Alternative scenario: breakout and consolidation below the level of 1.2816 will allow the pair to continue declining to a level of 1.2668.
Analysis: Supposedly, a descending correction in the form of the wave ii of 3 stopped developing within the 4-hour time frame. Apparently, an ascending impetus continues developing in the form of the wave (i) of iii, with the wave v of (i) of junior level forming inside. If the presumption is correct, the pair will continue to rise to levels 1.2939 – 1.3126. The level 1.2816 is critical in this scenario.
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