EUR/USD
The pair EUR/USD 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 declining 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. Presumably an upward correction B of (2) is developing on the H4 time-frame, with the wave b of B formed inside. Apparently, the wave c of B started developing on the H1 time-frame, with the first wave of junior level i of (i) of c formed and the local correction ii of (i) nearing completion as an irregular plane inside. If the presumption is correct, the pair will logically resume rising to the levels 1.1623 – 1.1813. The level 1.1300 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 1.2878.
Main scenario: long positions will be relevant above the level of 1.2878 with a target of 1.3305 – 1.3510 once the correction has finished.
Alternative scenario: Breakout and consolidation below the level of 1.2878 will allow the pair to continue declining to the levels of 1.2700 – 1.2550.
Analysis: Supposedly, a descending correction continues developing in the form of the second wave (2) on the daily time frame with the wave A of (2) formed within. Presumably the wave B of (2) is developing as a plane on the H4 time-frame, with the wave b of B formed inside. On the H1 time-frame, apparently, a downward impetus has formed as wave (i) of c. If the presumption is correct, the pair will continue rising to 1.3305 – 1.3510 once the correction (ii) of c finishes. The level 1.2878 is critical in this scenario.
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The pair USD/CHF is likely to fall in price. Estimated pivot point is at a level of 1.0095.
Main scenario: short positions will be relevant below the level of 1.0095 with a target of 0.9724 – 0.9620.
Alternative scenario: breakout and consolidation above the level of 1.0095 will allow the pair to continue the rise up to the levels of 1.0170 – 1.0238.
Analysis: The first wave of senior level 1 of (3) has been formed on the daily time-frame and the downward correction 2 of (3) is developing now. On the H4 time frame, the wave A of (2) has formed and presumably the local correction B of (2) finished developing. Apparently, the wave C of (2) started developing on the H1 time frame, with the waves of junior level i and ii formed inside. If the presumption is correct, the pair will logically drop to the levels 0.9724 – 0.9620. The level 1.0095 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 112.93.
long positions will be relevant above the level of 112.93 with a target of 115.00 – 116.50.
Alternative scenario: breakout and consolidation below the level of 112.93 will allow the pair to continue declining to a level of 111.34.
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, the wave (v) of i continues forming now on the 1-hour time frame, with the third wave of junior level iii of (v) developing inside. If the presumption is correct, the pair will continue to rise to the levels of 115.00 – 116.50 The level 112.93 is critical in this scenario.
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Correction for the pair USD/CAD is nearing completion. Estimated pivot point is at a level of 1.3229.
Main scenario: short positions will be relevant at retracements and below the level of 1.3229 with a target of 1.2887 – 1.2735.
Alternative scenario: breakout and consolidation above the level of 1.3229 will allow the pair to continue the rise up to the levels of 1.3390 – 1.3574.
Analysis: Supposedly, 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 nearing completion in the form of wave b of 2 that took an irregular plane shape. Apparently, a diagonal triangle finishes forming inside the wave (c) of b on the H1 time frame. If this assumption is correct, the pair may be expected to drop to 1.2887 – 1.2735 once it has finished forming. The level 1.3229 is critical in this scenario.
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