EUR/USD
The pair EUR/USD is still likely to grow under correction. Estimated pivot point is at a level of 1.1213.
Main scenario: long positions will be relevant from corrections above the level of 1.1213 with a target of 1.1511 – 1.1586.
Alternative scenario:Breakout and consolidation below the level of 1.1213 will allow the pair to continue declining to the levels of 1.1150 – 1.1100.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. On the H4 time frame, presumably the wave B of (2) has been formed and the wave С of (2) is developing, with the wave i of C formed inside. Apparently, the ascending correction of junior level ii of C started developing on the H1 time frame. If the presumption is correct, the pair will logically rise to 1.1511 – 1.1586. The level 1.1213 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 1.2693.
Main scenario: long positions will be relevant above the level of 1.2693 with a target of 1.3305 – 1.3510.
Alternative scenario: Breakout and consolidation below the level of 1.2693 will allow the pair to continue declining to the levels of 1.2550 – 1.2500.
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 and the downward correction (ii) of c has finished forming. If the presumption is correct, the pair will continue to rise to the levels 1.3305 – 1.3510. The level 1.2693 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 1.0127.
Main scenario: short positions will be relevant below the level of 1.0127 with a target of 0.9859 – 0.9724.
Alternative scenario:breakout and consolidation above the level of 1.0127 will allow the pair to continue rising to a level of 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 ascending correction of junior level B of (2) finished developing in the form of a zigzag. Apparently, the wave C of (2) begins developing on the 1H time frame. If the presumption is correct, the pair may be expected to fall to the levels of 0.9859 – 0.9724. The level 1.0127 is critical in this scenario.
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The pair USD/JPY is likely to fall in price. Estimated pivot point is at a level of 114.22.
Main scenario: short positions will be relevant from corrections below the level of 114.22 with a target of 110.65 – 109.50.
Alternative scenario:breakout and consolidation above the level of 114.22 will allow the pair to continue rising to a level of 115.50.
Analysis: Supposedly, the wave of senior level (C) of B continues developing on the daily time frame, with the wave 1 of (C) formed inside. Presumably a local correction is forming as the wave 2 of (C) on the 4-hour timeframe. On the H1 time frame, apparently the ascending correction of junior level finished developing in the form of wave b of 2. If this assumption is correct, the pair will continue to drop to 110.65 – 109.50. The level 114.22 is critical in this scenario.
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The pair USD/CAD is likely to fall in price. Estimated pivot point is at a level of 1.3264.
Main scenario: short positions will be relevant below the level of 1.3264 with a target of 1.2887 – 1.2735.
Alternative scenario:breakout and consolidation above the level of 1.3264 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, an upward correction of junior level finished developing in the form of wave b of 2 that took an irregular plane shape. Apparently, the wave c of 2 begins developing on the 1H time frame. If the presumption is correct, the pair may be expected to fall to the levels of 1.2887 – 1.2735. The level 1.3264 is critical in this scenario.
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