EUR/USD
The pair EUR/USD is still likely to fall 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 1.1700.
Alternative scenario:breakout and consolidation above the level of 1.2209 will allow the pair to continue rising to a level of 1.2555.
Analysis: An ascending impetus in a form of the wave (1) of senior level is supposed to have finished forming within the daily time frame. A downward correction (2) has supposedly started forming. Apparently, the wave A of (2) is developing at the moment, with the third wave of junior level iii of A forming inside. If the assumption is correct, the pair will continue falling to the level of 1.1700 or 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 1.3732.
Main scenario: short positions will be relevant from corrections below the level of 1.3732 with a target of 1.3268.
Alternative scenario: breakout and consolidation above the level of 1.3732 will allow the pair to continue rising to a level of 1.3950.
Analysis: Supposedly, an ascending impetus in the form of the first wave (1) of senior level has stopped forming within the day time frame. Apparently, a descending correction in the form of the wave (2) started developing locally, with the wave (A) forming as an impetus inside. If this assumption is correct, the pair will go on dropping to the level of 1.3268. The level 1.3732 may be critical in this scenario.
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Ascending trend for the pair USD/CHF continues Estimated pivot point is at a level of 0.9867.
Main scenario: long positions will be relevant from corrections above the level of 0.9867 with a target of 1.0137 – 1.0190.
Alternative scenario:breakout and consolidation below the level of 0.9867 will allow the pair to continue declining to a level of 0.9750.
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 1 going on to develop inside. If the presumption is correct, the pair will continue to rise to levels 1.0137 – 1.0190. The level 0.9867 may be critical in this scenario.
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Ascending trend for the pair USD/JPY continues Estimated pivot point is at a level of 108.71.
Main scenario: long positions will be relevant from corrections above the level of 108.71 with a target of 110.82 – 112.07.
Alternative scenario:breakout and consolidation below the level of 108.71 will allow the pair to continue declining to a level of 106.90.
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, with a local correction (iv) of iii nearing completion inside. If the presumption is correct, the pair will continue to rise to the levels of 110.82 – 112.07. The level 108.71 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 1.2756.
Main scenario: long positions will be relevant from corrections above the level of 1.2756 with a target of 1.3126.
Alternative scenario:Breakout and consolidation below the level of 1.2756 will allow the pair to continue declining to the levels of 1.2668 – 1.2520.
Analysis: Supposedly, a descending correction in the form of the wave ii of 3 stopped developing and the wave iii of 3 has started forming within the 4-hour time frame. Apparently, an ascending impetus in the form of wave (i) of iii has been formed and a local correction (ii) of iii is forming at the moment. If the presumption is correct, the pair will continue to rise to the level of 1.3126 once the correction has been completed. The level 1.2756 is critical in this scenario.
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