EUR/USD
The pair EUR/USD is still likely to fall Estimated pivot point is at a level of 1.1515.
Main scenario: short positions will be relevant from corrections below the level of 1.1515 with a target of 1.1289 – 1.1211.
Alternative scenario: breakout and consolidation above the level of 1.1515 will allow the pair to continue the rise up to the levels of 1.1568 – 1.1623.
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 as an impetus and the correction (ii) of iii completed in the form of a zigzag inside. If the presumption is correct, the pair will continue to drop to the levels of 1.1289 – 1.1211. The level 1.1515 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 1.3006.
Main scenario: long positions will be relevant above the level of 1.3006 with a target of 1.3390 – 1.3628.
Alternative scenario: Breakout and consolidation below the level of 1.3006 will allow the pair to continue declining to the levels of 1.2827 – 1.2665.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing on the daily frame in the form of a zigzag. On the H4 time frame, supposedly, the wave C of (2) finished developing in the form of a wedge and the first counter-trend wave of junior level i of 1 of (3) started forming. Apparently, the wave (iii) of i of 1 continues developing on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.3390 – 1.3628. The level 1.3006 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 0.9994.
Main scenario: short positions will be relevant from corrections below the level of 0.9994 with a target of 0.9854 – 0.9819.
Alternative scenario: breakdown and consolidation above the level of 0.9994 will allow the pair to continue the rise up to the levels of 1.0073 – 1.0126.
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) has finished developing. Supposedly, the first counter-trend wave of junior level i of 1 of (3) is formed as an impetus on the H4 time frame. On the H1 time frame, apparently a local correction has started developing in the form of wave ii of 1. If the presumption is correct, the pair will continue to drop to the levels 0.9854 – 0.9819 in the short term. The level 0.9994 is critical in this scenario.
The pair USD/JPY is still 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. Supposedly, the local correction finished forming as wave 2 of (C) on the H4 time frame and the first counter-trend wave of junior level i of 3 of (C) is forming at the moment. On the H1 time frame, the wave (iii) of i has been formed and a downward correction (iv) of i is nearing completion. If the presumption is correct, the pair will continue to rise to the levels of 110.80 – 111.42. The level 107.73 is critical in this scenario.
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The pair USD/CAD is still likely to fall. Estimated pivot point is at a level of 1.3286.
Main scenario: short positions will be relevant from corrections below the level of 1.3286 with a target of 1.3070 – 1.3030.
Alternative scenario: breakout and consolidation above the level of 1.3286 will allow the pair to continue the rise up to the levels of 1.3376 – 1.3419 and higher.
Analysis: Supposedly, a descending correction of senior level in the form of the wave 2 of (5) finished developing on the daily frame and the wave 3 of (5) is forming at the moment. 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 as a zigzag at the moment. Apparently, the wave (с) of ii is developing on the 1H time frame. If the presumption is correct, the pair will continue falling to the levels of 1.3070 – 1.3030 in the short term. The level 1.3286 is critical in this scenario.
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