EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1508.
Main scenario: long positions will be relevant from corrections above the level of 1.1508 with a target of 1.1884.
Alternative scenario: Breakout and consolidation below the level of 1.1508 will allow the pair to continue declining to the levels of 1.1438 – 1.1176.
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 A of junior level has been formed and an upward correction is developing now in the form of the wave iv of A, with the wave (b) of iv completed inside, supposedly. If this assumption is correct, the pair will go on growing to the level of 1.1884. The level 1.1508 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 1.3480.
Alternative scenario: breakout and consolidation below the level of 1.3202 will allow the pair to continue declining to a level of 1.2926.
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 is developing in the form f the wave B of (2), with the wave a of B formed as a wedge and the wave b of B completed inside. If the presumption is correct, the pair may be expected to rise to the level of 1.3480. The level 1.3202 is critical in this scenario.
Ascending trend for the pair USD/CHF continues. Estimated pivot point is at a level of 0.9824.
Main scenario: long positions will be relevant from corrections above the level of 0.9824 with a target of 1.0057.
Alternative scenario: breakout and consolidation below the level of 0.9824 will allow the pair to continue declining to the levels at 0.9668 – 0.9432.
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 downward correction iv of 1 has finished locally and the wave v of 1 has started forming. If the presumption is correct, the pair will logically continue to rise to a level of 1.0057. The level 0.9824 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 109.89.
Main scenario: long positions will be relevant from corrections above the level of 109.89 with a target of 111.40.
Alternative scenario: breakout and consolidation below the level of 109.89 will allow the pair to continue declining to the levels at 109.18 – 108.37.
Analysis: Supposedly, an ascending impetus has been formed within the 4-hour time frame as the first wave of senior level 1 of (C) and a local correction 2 of (C) has come to an end. Apparently, the wave 3 of (C) started forming now, with the first wave of junior level i of 3 forming inside. If the presumption is correct, the pair will logically continue to rise to a level of 111.40. The level 109.89 is critical in this scenario.
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Ascending trend for the pair USD/CAD continues. Estimated pivot point is at a level of 1.2946.
Main scenario: long positions will be relevant from corrections above the level of 1.2946 with a target of 1.3300.
Alternative scenario: breakout and consolidation below the level of 1.2946 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 formed inside. If the presumption is correct, the pair will continue to rise to the level of 1.3300 once the correction (iv) has been completed. The level 1.2946 is critical in this scenario.
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