EUR/USD
The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1848.
Main scenario: short positions will be relevant from corrections below the level of 1.1848 with a target of 1.1320 – 1.1176.
Alternative scenario: breakout and consolidation above the level of 1.1848 will allow the pair to continue the rise up to the levels of 1.1991 – 1.2111.
Analysis: In the daily time frame, an upward impetus is formed as the first wave of senior level (1) and a downward correction continues forming as wave (2). In the 4-hour time frame, a downward impetus continues forming within the wave A of (2), with a correction wave iv of A completed inside. In the 1-hour time frame, apparently, the fifth wave v of A is forming, with an upward correction of junior level (ii) of v nearing completion inside. If the presumption is correct, the pair will continue to drop to the levels 1.1320 – 1.1176. The level 1.1848 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 1.3476.
Main scenario: short positions will be relevant below the level of 1.3476 with a target of 1.3040 – 1.2926.
Alternative scenario: breakout and consolidation above the level of 1.3476 will allow the pair to continue rising to a level of 1.3645.
Analysis: Supposedly, the first wave of senior level (1) is formed as an impetus within the daily timeframe. A downward correction in the form of the second wave (2) is developing in the 4-hour time-frame, with the wave C of (2) forming within. In the 1-hour time frame, apparently, a bearish impetus has been formed as the first wave of junior level i of C and an ascending correction ii of C is developing now. If the presumption is correct, the pair will logically fall to 1.3040 – 1.2926 once the correction is competed. The level 1.3476 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 0.9787.
Main scenario: long positions will be relevant from corrections above the level of 0.9787 with a target of 1.0057 – 1.0190.
Alternative scenario: breakout and consolidation below the level of 0.9787 will allow the pair to continue declining to the levels at 0.9745 – 0.9668.
Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) within the daily time frame. A downward correction in the form of wave iv of 1 has finished in the 4-hour time frame and the wave v of 1 has started forming. Apparently, the first wave of junior level (i) of v has been formed in the 1-hour time frame and a downward correction is developing in the form of the wave (ii) of v. If the presumption is correct, the pair will logically resume rising to the levels 1.0057 – 1.0190 once the correction is completed. The level 0.9787 is critical in this scenario.
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The USD/JPY pair is under correction, still likely to fall. Estimated pivot point is at a level of 110.75.
Main scenario: short positions will be relevant from corrections below the level of 110.75 with a target of 109.21 – 108.81.
Alternative scenario: Breakout and consolidation above the level of 110.75 will allow the pair to continue rising to a level of 111.40 and higher.
Analysis: Supposedly, the wave B of senior level is developing within the daily timeframe, with the wave (C) of B starting to develop inside. In the 4-hour time frame, a counter-trend impetus is formed as wave 1 of (C), a correction wave 2 of (C) is completed and the first wave of junior level i of 3 is formed. A downward correction is developing as wave ii of 3 in the form of plane (a)(b)(c). If this presumption is correct, the pair will continue to fall to 109.20 – 108.80. The level 110.75 is critical in this scenario.
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The pair USD/CAD is likely to fall under correction. Estimated pivot point is at a level of 1.3340.
Main scenario: short positions will be relevant from corrections below the level of 1.3340 with a target of 1.3108 – 1.3036.
Alternative scenario: breakout and consolidation above the level of 1.3340 will allow the pair to continue rising to a level of 1.3500.
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. The fifth wave v of 1 is developing in the 4-hour timeframe. Apparently, the third wave of junior level (iii) of v is formed in the 1-hour time frame. If this assumption is correct, we may expect that the pair will go down as part of the fourth wave (iv) of v to the levels 1.3108 – 1.3036 under correction. The level 1.3340 is critical in this scenario.
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