EUR/USD
Probability of correctional growth for EUR/USD. Estimated pivot point is at a level of 1.1760.
Main scenario: long positions will be relevant above the level of 1.1760 with a target of 1.1930 – 1.2030.
Alternative scenario:Breakout and consolidation below the level of 1.1760 will allow the pair to continue declining to the levels of 1.1700 – 1.1550.
Analysis: Supposedly, the wave A of (2) of senior level continues forming within the daily time frame. Apparently, the third wave of junior level iii of А is formed. If this assumption is correct, we may expect that the pair will grow as part of the wave iv of A to the levels 1.1930 – 1.2030 under correction. The level 1.1760 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 1.3620
Main scenario: short positions will be relevant from corrections below the level of 1.3620 with a target of 1.3268.
Alternative scenario: breakout and consolidation above the level of 1.3620 will allow the pair to continue the rise up to the levels of 1.3738 – 1.3800.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. Apparently, the wave A of (2) is forming locally, with the fifth wave v of A developing within. If the assumption is correct, the pair will logically continue dropping to the level of 1.3268. The level 1.3620 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 0.9953.
Main scenario: long positions will be relevant from corrections above the level of 0.9953 with a target of 1.0137 – 1.0190.
Alternative scenario:breakout and consolidation below the level of 0.9953 will allow the pair to continue declining to the levels of 0.9860 – 0.9798.
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 continues forming now, with a local correction (iv) of iii completed inside. If the presumption is correct, the pair will continue to rise to the levels 1.0137 – 1.0190. The level 0.9953 is critical in this scenario.
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Ascending trend for the pair USD/JPY continues. Estimated pivot point is at a level of 109.70.
Main scenario: long positions will be relevant from corrections above the level of 109.70 with a target of 112.07.
Alternative scenario:breakout and consolidation below the level of 109.70 will allow the pair to continue declining to the levels at 108.95 – 108.28.
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 has been formed. If the presumption is correct, the pair will continue to rise to the level of 112.07 once the local correction iv of 1 is completed. The level 109.70 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 1.2727.
Main scenario: long positions will be relevant from corrections above the level of 1.2727 with a target of 1.3126.
Alternative scenario:breakout and consolidation below the level of 1.2727 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, a local irregular correction of junior level (ii) of iii has finished forming. If the assumption is correct, the pair will continue growing to the level of 1.3126. The level 1.2727 is critical in this scenario.
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