EUR/USD
The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1752.
Main scenario: short positions will be relevant from corrections below the level of 1.1752 with a target of 1.1439.
Alternative scenario: breakout and consolidation above the level of 1.1752 will allow the pair to continue rising to a level of 1.1998.
Analysis: On 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). On the 4H time frame, the downward impetus continues developing within the wave A of (2), with a local correction completed inside in the form of the triangular wave iv of A. Apparently, the final fifth wave v of A started forming on the 1H time frame. If this assumption is correct, the pair will continue to drop to 1.1439. The level 1.1752 is critical in this scenario.
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The pair GBP/USD continues falling. Estimated pivot point is at a level of 1.3215.
Main scenario: short positions will be relevant from corrections below the level of 1.3215 with a target of 1.2800 – 1.2580.
Alternative scenario: breakout and consolidation above the level of 1.3215 will allow the pair to continue rising to a level of 1.3553.
Analysis: Supposedly, the first wave of senior level (1) is formed as an impetus within the daily timeframe. Supposedly, a downward correction in the form of the second wave (2) continues developing on the 4-hour time-frame, with the wave C of (2) forming inside. Apparently, a local correction in the form of wave ii of C of junior level is completed on the 1H time frame. If the presumption is correct, the pair will resume falling in the third wave iii of C to the levels of 1.2800 – 1.2580. The level 1.3215 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 0.9899.
Main scenario: long positions will be relevant from corrections above the level of 0.9899 with a target of 1.0100 – 1.0190.
Alternative scenario: breakout and consolidation below the level of 0.9899 will allow the pair to continue declining to a level of 0.9745.
Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) within the daily time frame. The fifth wave v of 1 is forming on the 4-hour timeframe. Apparently, the third wave of junior level (iii) of v has been formed on the 1-hour time frame and a local correction finished developing in the form of the wave (iv) of v. If the presumption is correct, the pair will continue to rise to levels 1.0100 – 1.0190. The level 0.9899 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 110.57.
Main scenario: long positions will be relevant above the level of 110.57 with a target of 113.22 – 115.50.
Alternative scenario: breakout and consolidation below the level of 110.57 will allow the pair to continue declining to the levels at 109.35 – 108.15.
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. Supposedly, a local correction finished forming in the form of wave 2 of C that took a shape of an irregular plane on the 4-hour time frame. A downward impetus is completed as wave c of 2 of junior level on the 1H time frame. If the presumption is correct, the pair will resume rising to the levels of 113.22 – 115.50. The level 110.57 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 1.2986.
Main scenario: long positions will be relevant above the level of 1.2986 with a target of 1.3500.
Alternative scenario: breakout and consolidation below the level of 1.2986 will allow the pair to continue declining to a level of 1.2740.
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 continues developing on the 4-hour timeframe. Apparently, a local correction in the form of the fourth wave of junior level (iv) of v finishes forming on the 1H time frame. If this assumption is correct, the pair will go on growing to the level of 1.3500. The level 1.2986 is critical in this scenario.
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