EUR/USD
The pair EUR/USD is likely to grow. Estimated pivot point is at a level of 1.1367.
Main scenario: long positions will be relevant from corrections above the level of 1.1367 with a target of 1.1466 – 1.1490.
Alternative scenario: Breakout and consolidation below the level of 1.1367 will allow the pair to continue declining to the levels of 1.1258 – 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. On the H4 time frame, presumably an ascending correction has finished developing in the form of wave ii of C. On the H1 time frame, apparently, the third wave iii of С of (2) started forming, with the wave (i) of iii formed inside. If the presumption is correct, the pair will logically rise to the levels 1.1466 – 1.1490 under correction in the short term. The level 1.1367 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 1.2665
Main scenario: long positions will be relevant above the level of 1.2665 with a target of 1.3175 – 1.3303.
Alternative scenario: Breakout and consolidation below the level of 1.2665 will allow the pair to continue declining to the levels of 1.2393 – 1.2300.
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. Apparently, the wave 3 starts forming on the H1 time-frame, with the wave of junior level (ii) of i of 1 of (3) formed and the wave (iii) of i of 1 developing inside. If the presumption is correct, the pair will continue to rise to the levels 1.3175 – 1.3303. The level 1.2665 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 timeframe, presumably the local ascending correction of junior level B of (2) has finished forming 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 nearing completion 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 107.73.
Main scenario: long positions will be relevant above the level of 107.73 with a target of 111.42 – 113.66.
Alternative scenario: Breakout and consolidation below the level of 107.73 will allow the pair to continue declining to the levels of 106.20 – 104.50.
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 correction wave of junior level (ii) of i of 3 completed and the wave (iii) of i starting to form inside. If the presumption is correct, the pair will continue to rise to the levels of 111.42 – 113.66. The level 107.73 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 1.3320.
Main scenario: short positions will be relevant below the level of 1.3320 with a target of 1.3130 – 1.3070.
Alternative scenario: breakout and consolidation above the level of 1.3320 will allow the pair to continue the rise up to the levels of 1.3419 – 1.3478.
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 H1 time frame, the wave (a) of ii has been formed as an impetus and the downward correction is completed in the form of the wave (b) of ii. If the presumption is correct, the pair will logically continue to decline to the levels 1.3130 – 1.3070. The level 1.3320 is critical in this scenario.
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