EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1306.
Main scenario: long positions will be relevant from corrections above the level of 1.1306 with a target of 1.1511 – 1.1586.
Alternative scenario: breakout and consolidation below the level of 1.1306 will allow the pair to continue declining to the levels of 1.1200 – 1.1150.
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 timeframe, with the wave i of C formed and an ascending correction forming as wave ii of C inside. On H1 timeframe, apparently the wave (c) of ii continues developing, with the wave iii of (c) forming inside. If the presumption is correct, the pair will logically continue to rise to the levels 1.1511 – 1.1586. The level 1.1306 is critical in this scenario.
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The pair GBP/USD is still likely to fall. Estimated pivot point is at a level of 1.2763.
Main scenario: short positions will be relevant below the level of 1.2763 with a target of 1.2475 – 1.2412.
Alternative scenario: breakout and consolidation above the level of 1.2763 will allow the pair to continue the rise up to the levels of 1.2932 – 1.3175.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) continues to develop within the daily frame. A wave C of (2), supposedly, continues developing on the 4H time frame in the form of a wedge, with the fifth wave v of C formed inside. Apparently, a local correction of junior level (iv) of v of C finished developing on the 1H frame. If the presumption is correct, the pair will logically continue falling to 1.2475 – 1.2412. The level 1.2763 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 1.0008.
Main scenario: short positions will be relevant from corrections below the level of 1.0008 with a target of 0.9724 – 0.9618.
Alternative scenario: breakout and consolidation above the level of 1.0008 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 is developing on the H1 time frame. If this assumption is correct, the pair will continue to fall to 0.9724 – 0.9618. The level 1.0008 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 114.02.
Main scenario: short positions will be relevant from corrections below the level of 114.02 with a target of 111.82 – 111.35.
Alternative scenario: breakout and consolidation above the level of 114.02 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. Apparently, the wave c of 2 is developing on H1 time frame, with the local correction of junior level (iv) of c nearing completion inside. If the presumption is correct, the pair will continue to drop to the levels 111.35 – 110.65. The level 114.02 is critical in this scenario.
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The pair USD/CAD s still likely to grow. Estimated pivot point is at a level of 1.3249.
Main scenario: long positions will be relevant from corrections above the level of 1.3249 with a target of 1.3700 – 1.3800.
Alternative scenario: breakout and consolidation below the level of 1.3249 will allow the pair to continue declining to a level of 1.3079.
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) started forming. On the H4 time-frame, the first counter-trend wave of junior level i of 3 and a respective correction in the form of wave ii of 3 have been formed. On the H1 time-frame, apparently, an ascending impetus in the form of wave (i) of iii has been formed and a local correction (ii) of iii is completed. If the presumption is correct, the pair will logically continue to rise to the levels 1.3700 – 1.3800. The level 1.3249 is critical in this scenario.
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