EUR/USD
The EUR/USD rate is still likely to grow. Estimated pivot point is at a level of 1.1300.
Main scenario: long positions will be relevant from corrections above the level of 1.1300 with a target of 1.1623 – 1.1813.
Alternative scenario: Breakout and consolidation below the level of 1.1300 will allow the pair to continue falling to the levels of 1.1200 – 1.1100.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues developing on the daily time frame with the wave A of (2) formed within. An upward correction B of (2), supposedly, is developing on the H4 time frame, with the wave b of B, formed inside. Apparently, the wave c of В started developing on the H1 frame, with the first wave of senior level (i) of c developing inside. If the presumption is correct, the pair may continue rising to the levels 1.1623 – 1.1813. The level 1.1300. is critical in this scenario.
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The GBP/USD rate is still likely to grow. Estimated pivot point is at a level of 1.2690.
Main scenario: long positions will be relevant from corrections above the level of 1.2690 with a target of 1.3305 – 1.3510.
Alternative scenario: Breakout and consolidation below the level of 1.2690 will allow the pair to continue falling to the levels of 1.2550 – 1.2450.
Analysis: Supposedly, a downward correction in the form of the wave (2) continues developing in the daily time frame with the wave A of (2) formed within. Supposedly, the plane-shaped wave B of (2) is is forming in the H4 time frame, with the wave b of B formed inside. Apparently, an upward momentum has been formed in the form of the wave (i) of c in the H1 time frame. If the presumption is correct, the pair may continue growing to the levels 1.3305 – 1.3510. The level 1.2690 is critical in this scenario.
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The USD/CHF rate is likely to decline. Estimated pivot point is at a level of 1.0092.
Main scenario: short positions will be relevant below the level of 1.0092 with a target of 0.9724 – 0.9620.
Alternative scenario: Breakout and consolidation above the level of 1.0092 will allow the pair to continue rising to the levels of 1.0170 – 1.0238.
Analysis: The first wave of senior level 1 of (3) has been complete and the downward correction 2 of (3) is developing on the daily time frame. On H4 time frame, the wave A of 2 is complete and, supposedly, the local correction B of 2 has finished forming. Apparently, the wave C of 2 started developing on H1 time frame. Therefore, if the presumption is correct, the pair will continue declining to the levels 0.9724 – 0.9620. The level 1.0092 is critical in this scenario.
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The USD/JPY rate is still likely to grow. Estimated pivot point is at a level of 111.60.
Main scenario: long positions will be relevant from corrections above the level of 111.60 with a target of 115.00 – 116.50.
Alternative scenario: Breakout and consolidation below the level of 111.60 will allow the pair to continue falling to the level of 109.76.
Analysis: Supposedly, the wave (C) of B of senior level continues developing on the daily timeframe. On the 4-hour time frame, presumably the wave 3 of (C) is developing, with the wave i of 3 forming inside. Apparently, a local correction of junior level in the form of wave (iv) of i finished forming on the H1 time frame and the wave (v) of i started developing. If the presumption is correct, the pair will continue rising to the levels of 115.00 – 116.50. The level 111.60 is critical in this scenario.
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The USD/CAD rate is likely to decline. Estimated pivot point is at a level of 1.3170.
The USD/CAD rate is likely to decline. Estimated pivot point is at a level of 1.3170.
Main scenario: short positions will be relevant from corrections below the level of 1.3170 with a target of 1.2887 – 1.2735.
Alternative scenario: Breakout and consolidation above the level of 1.3170 will allow the pair to continue rising to the levels of 1.3280 – 1.3384.
Analysis: The wedge-shaped first wave of senior level 1 of (5) finished developing on the daily time frame, and the downward correction 2 of (5) is forming at the moment. On the H4 time frame, a correction of junior level is complete in the form of wave b of 2 that has taken an irregular plane shape. Apparently, the wave c of 2 starts developing on H1 time frame. If the presumption is correct, the pair will continue declining towards the levels 1.2887 – 1.2735. The level 1.3170 is critical in this scenario.
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