EUR/USD
Descending trend for the pair EUR/USD continues. Estimated pivot point is at a level of 1.1750.
Main scenario: short positions will be relevant below the level of 1.1750 with a target of 1.1600.
Alternative scenario:breakout and consolidation above the level of 1.1750 will allow the pair to continue the rise up to the levels of 1.1864 – 1.1981.
Analysis: Supposedly, the wave A of (2) of senior level continues forming within the daily time frame. Apparently, the third wave iii of A of junior level continues developing now. If this assumption is correct, the pair will continue to drop to 1.1600. The level 1.1750 is critical in this scenario.
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Probability of correctional growth for GBP/USD Estimated pivot point is at a level of 1.3301.
Main scenario: long positions will be relevant when the price has bounced from the level of 1.3301 with a target of 1.3557 – 1.3713.
Alternative scenario: breakout and consolidation below the level of 1.3301 will allow the pair to continue declining to a level of 1.3160.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. Apparently, the fifth wave A of (2) is formed locally, with the fifth wave v of A developed within. If the assumption is correct, we can expect the development of correctional growth as past of the wave B of (2) to the levels at 1.3557 – 1.3713. The level 1.3301 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 0.9884.
Main scenario: long positions will be relevant from corrections above the level of 0.9884 with a target of 1.0137 – 1.0190.
Alternative scenario:breakout and consolidation below the level of 0.9884 will allow the pair to continue declining to the levels at 0.9819 – 0.9744.
Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) within the daily time frame. Apparently, the third wave of junior level iii of 1 is formed and a local correction iv of 1 is completed. If the presumption is correct, the pair will continue to rise to levels 1.0137 – 1.0190. The level 0.9884 may be critical in this scenario.
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Upward correction for USD/JPY may develop Estimated pivot point is at a level of 108.92.
Main scenario: long positions will be relevant from corrections above the level of 108.92 with a target of 110.16 – 110.46.
Alternative scenario:breakout and consolidation below the level of 108.92 will allow the pair to continue declining to the levels 108.01 – 107.22.
Analysis: Supposedly, an ascending impetus finished forming as the first wave 1 of (C) within the 4-hour time frame. Apparently, a descending correction started forming now as the second wave 2 of (C), with the wave a of 2 formed within. If the presumption is correct, the pair will logically rise inside the wave b of 2 to a level of 110.16 – 110.46. The level 108.92 may be 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 1.2740.
Main scenario: long positions will be relevant from corrections above the level of 1.2740 with a target of 1.3126 or higher.
Alternative scenario:breakout and consolidation below the level of 1.2740 will allow the pair to continue declining to a level of 1.2520.
Analysis: Supposedly, the third wave of senior level iii of 3 continues to develop within the daily time frame. Apparently, the third wave of junior level (iii) of iii is forming now. If this assumption is correct, the pair will continue rising to a level of 1.3126. The level 1.2740 is critical in this scenario.
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