EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1344.
Main scenario: long positions will be relevant from corrections above the level of 1.1344 with a target of 1.1515 – 1.1586.
Alternative scenario: Breakout and consolidation below the level of 1.1344 will allow the pair to continue declining to the levels of 1.1270 – 1.1200.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. Presumably the wave С of (2) is developing on H4 time frame, with the wave i of C formed and an ascending correction forming as wave ii of C inside. On the H1 time frame, apparently the wave (c) of ii continues developing, with the local correction of junior level ii of (c) completed inside. If the presumption is correct, the pair will logically continue to rise within the wave iii of (c) to the levels 1.1515 – 1.1586. The level 1.1344 is critical in this scenario.
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The pair GBP/USD is likely to grow. Estimated pivot point is at a level of 1.2470.
Main scenario: long positions will be relevant above the level of 1.2470 with a target of 1.2933 – 1.3175.
Alternative scenario: breakout and consolidation below the level of 1.2740 will allow the pair to continue declining to a level of 1.2353.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing on the daily frame. The wave C of (2), supposedly, finished developing on the H4 time frame in the form of a wedge, with the fifth wave v of C formed inside. Apparently, the first wave of junior level i of (i) and its correction ii of (i) have formed on the H1 time frame. If the presumption is correct, the pair will logically rise to the levels 1.2932 – 1.3175. The level 1.2470 is critical in this scenario.
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The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 0.9986.
Main scenario: short positions will be relevant from corrections below the level of 0.9986 with a target of 0.9724 – 0.9618.
Alternative scenario: breakout and consolidation above the level of 0.9986 will allow the pair to continue rising to a level of 1.0122.
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 H4 timeframe, presumably the local ascending correction of junior level B of (2) has finished in the form of a zigzag and the wave С of (2) has started developing. Apparently, the third wave iii of C continues developing on H1 time frame, with the wave (iii) of iii forming inside. If the presumption is correct, the pair will continue to drop to the levels 0.9724 – 0.9618. The level 0.9986 is critical in this scenario.
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The pair USD/JPY is still likely to fall. Estimated pivot point is at a level of 112.19.
Main scenario: short positions will be relevant from corrections below the level of 112.19 with a target of 109.50 – 108.33.
Alternative scenario: breakout and consolidation above the level of 112.19 will allow the pair to continue rising to a level of 113.66.
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 time frame. Apparently, the wave c of 2 is developing on the H1 time frame, with the third wave of junior level (iii) of c forming inside. If the presumption is correct, the pair will continue to drop to the levels 109.50 – 108.33. The level 112.19 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 1.3438.
Main scenario: long positions will be relevant from corrections above the level of 1.3438 with a target of 1.3750 – 1.3850.
Alternative scenario: Breakout and consolidation below the level of 1.3438 will allow the pair to continue declining to the levels of 1.3254 – 1.3158.
Analysis: Supposedly, a descending correction of senior level in the form of the wave 2 of (5) finished developing within the daily frame and the wave 3 of (5) is forming. An upward impetus is developing as the third wave iii of 3 on the 4-hour time frame. Apparently, the third wave of junior level (iii) of iii of 3 continues forming now on the H1 time frame. If the presumption is correct, the pair will logically continue to rise to the levels 1.3750 – 1.3850. The level 1.3438 is critical in this scenario.
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