EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1440.
Main scenario: long positions will be relevant from corrections above the level of 1.1440 with a target of 1.1586 – 1.1620.
Alternative scenario: Breakout and consolidation below the level of 1.1440 will allow the pair to continue declining to the levels of 1.1308 – 1.1210.
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 C of (2) developing within. Presumably an ascending correction is developing as wave ii of C on the H4 time frame. On the H1 time frame, apparently, the third wave of junior level iii of (c) of ii has formed and a local correction iv of (c) is developing at the moment. If the presumption is correct, the pair will logically resume dropping to the levels 1.1586 – 1.1620. The level 1.1440 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 1.2396.
Main scenario: long positions will be relevant above the level of 1.2396 with a target of 1.3175 – 1.3303.
Alternative scenario: Breakout and consolidation below the level of 1.2396 will allow the pair to continue declining to the levels of 1.2300 – 1.2150.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing within the daily frame in the form of a zigzag. Supposedly, the wave C of (2) finished developing on the 4-hour time frame in the form of a wedge. Presumably the wave (3) started forming on the H1 time frame, with the wave (i) of i of 1 of (3) formed inside. If the presumption is correct, the pair will logically continue growing to the levels 1.3175 – 1.3303 after correction (ii) of i. The level 1.2396 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 1.0006.
Main scenario: short positions will be relevant from corrections below the level of 1.0006 with a target of 0.9618.
Alternative scenario: breakout and consolidation above the level of 1.0006 will allow the pair to continue the rise up to the levels of 1.0122 – 1.0256.
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 time frame, 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) continues developing. On the H1 time frame, apparently, the third wave iii of C finished forming and a local ascending correction iv of C is developing at the moment. If this assumption is correct, the pair will continue to drop to 0.9618 once the correction is completed. The level 1.0006 is critical in this scenario.
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The pair USD/JPY is likely to grow. Estimated pivot point is at a level of 104.46.
Main scenario: long positions will be relevant above the level of 104.46 with a target of 113.66 – 114.50.
Alternative scenario: breakout and consolidation below the level of 104.46 will allow the pair to continue declining to a level of 103.00.
Analysis: Supposedly, the wave of senior level (C) of B continues developing on the daily time frame, with the wave 2 of (C) formed inside. Presumably a local correction is completed as the wave 2 of (C) on the 4-hour time frame. Apparently, the wave 3 of (C) starts forming on the H1 time-frame, with the first wave of junior level (i) of i of 3 formed and the correction (ii) of i completed inside. If the presumption is correct, the pair will continue to rise to the levels of 113.66 – 114.50. The level 104.46 is critical in this scenario.
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The pair USD/CAD is likely to grow. Estimated pivot point is at a level of 1.3175.
Main scenario: long positions will be relevant above the level of 1.3175 with a target of 1.3390 – 1.3440.
Alternative scenario: Breakout and consolidation below the level of 1.3175 will allow the pair to continue declining to the levels of 1.3130 – 1.3070.
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. On the 4-hour time frame, an upward impetus finished developing as the first wave i of 3 and a downward correction ii of 3 is forming at the moment. On the H1 time frame, apparently the wave (a) of ii is completed as an impetus. If the presumption is correct, the pair will grow to 1.3390 – 1.3440 as part of the wave (b) of ii under correction. The level 1.3175 is critical in this scenario.
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