EUR/USD
The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1720.
Main scenario: short positions will be relevant from corrections below the level of 1.1720 with a target of 1.1439 – 1.1320.
Alternative scenario: breakout and consolidation above the level of 1.1720 will allow the pair to continue the rise up to the levels of 1.1850 – 1.1990.
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 completed and the wave (iii) of v developing inside. If the presumption is correct, the pair will continue to drop to the levels 1.1439 – 1.1320. The level 1.1720 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 1.3230.
Main scenario: short positions will be relevant below the level of 1.3230 with a target of 1.2926.
Alternative scenario: breakout and consolidation above the level of 1.3230 will allow the pair to continue rising to a level of 1.3477.
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. Apparently, the third wave iii of C of junior level continues developing in the 1-hour time frame. If this assumption is correct, the pair will continue to drop to 1.2926. The level 1.3230 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 0.9853.
Main scenario: long positions will be relevant from corrections above the level of 0.9853 with a target of 1.0057 – 1.0190.
Alternative scenario: breakout and consolidation below the level of 0.9853 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, a downward correction in the form of the wave (ii) of v has finished in the 1-hour time frame, and the third wave (iii) of v is developing at the moment. If the presumption is correct, the pair will continue to rise to levels 1.0057 – 1.0190. The level 0.9853 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 109.35.
Main scenario: long positions will be relevant from corrections above the level of 109.35 with a target of 111.40 – 112.60.
Alternative scenario: breakout and consolidation below the level of 109.35 will allow the pair to continue declining to the levels at 108.81 – 108.00.
Analysis:Supposedly, the wave B of senior level is developing within the daily timeframe, with the wave (C) of B starting to develop inside the wave B. In the 4-hour time frame, a counter-trend impetus is formed as wave1 of (C), a correction wave 2 of (C) is completed and the first wave of junior level i of 3 is formed. A descending correction is completed as the wave ii of 3 in the form of plane (a)(b)(c) and the third wave iii of 3 started developing in the 1-hour frame. If the presumption is correct, the pair will continue to rise to the levels 111.40 – 112.60 and higher. The level 109.35 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 1.3043.
Main scenario: long positions will be relevant above the level of 1.3043 with a target of 1.3500 – 1.3600 once the correction has finished.
Alternative scenario: Breakout and consolidation below the level of 1.3043 will allow the pair to continue declining to the levels of 1.2850 – 1.2735.
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 continues forming now in the 1-hour time frame, with a local correction (iv) of iii developing inside. If the presumption is correct, the pair will logically resume dropping to the levels 1.3500 – 1.3600. The level 1.3043 is critical in this scenario.
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