EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1516.
Main scenario: long positions will be relevant from corrections above the level of 1.1516 with a target of 1.1748 – 1.1884.
Alternative scenario:Breakout and consolidation below the level of 1.1516 will allow the pair to continue declining to the levels of 1.1435 – 1.1350.
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 has been formed and an upward correction started developing as the wave iv of A. If the assumption is correct, the pair will continue rising to the levels 1.1748 – 1.1884. The level 1.1516 is critical in this scenario.
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The pair GBP/USD is still likely to grow. Estimated pivot point is at a level of 1.3202.
Main scenario: long positions will be relevant above the level of 1.3202 with a target of 1.3477 – 1.3645.
Alternative scenario: breakout and consolidation below the level of 1.3202 will allow the pair to continue declining to a level of 1.3100.
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 А of (2) has been formed locally and an ascending correction has started developing in the form of the wave B of (2). If the presumption is correct, the pair will logically rise to the levels 1.3477 – 1.3645. The level 1.3202 is critical in this scenario.
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The pair USD/CHF is still likely to fall Estimated pivot point is at a level of 0.9979.
Main scenario: short positions will be relevant from corrections below the level of 0.9979 with a target of 0.9819 – 0.9744.
Alternative scenario:breakout and consolidation above the level of 0.9979 will allow the pair to continue the rise up to the levels of 1.0137 – 1.0190.
Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) within the daily time frame. Apparently, a downward correction iv of 1 is forming now, with the wave (c) of iv developing within. If the presumption is correct, the pair will continue to drop to the levels 0.9819 – 0.9744. The level 0.9979 is critical in this scenario.
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The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 108.35.
Main scenario: long positions will be relevant from corrections above the level of 108.35 with a target of 111.40.
Alternative scenario:Breakout and consolidation below the level of 108.35 will allow the pair to continue declining to a level of 107.22.
Analysis: Supposedly, an ascending impetus has been formed within the 4-hour time frame as the first wave of senior level 1 of (C). Apparently, a descending correction finished forming now as the second wave 2 of (C), and the wave 3 of (C) started forming within. If the presumption is correct, the pair will logically rise to a level of 111.40. The level 108.35 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 1.2815.
Main scenario: long positions will be relevant from corrections above the level of 1.2815 with a target of 1.3126 or higher.
Alternative scenario:breakout and consolidation below the level of 1.2815 will allow the pair to continue declining to a level of 1.2525.
Analysis: Supposedly, the first wave of senior level 1 of (5) continues to develop within the daily time frame in the form of a wedge. Apparently, the fifth wave of junior level v of 1 is forming now, with the wave (iii) of v forming inside. If this assumption is correct, the pair will go on growing to the level of 1.3126. The level 1.2815 is critical in this scenario.
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