EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.0991.
Main scenario: long positions will be relevant from corrections above the level of 1.0991 with a target of 1.1163 – 1.1249.
Alternative scenario: Breakout and consolidation below the level of 1.0922 will allow the pair to continue declining to the levels of 1.0924 – 1.0850.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave 2 finished developing on the daily time frame as a zigzag with a diagonal triangle located in wave (С) of 2. Supposedly, the fifth wave 5 of (C) finished forming on the H4 time frame, with wave c of 5 formed inside. Apparently, wave 3 has started forming on the H1 time frame, with counter-trend impulse of junior level i of 1 of (1) of 3 formed, correction ii of 1 of (1) completed and wave iii of 1 starting to develop inside. If the presumption is correct, the pair will continue to rise to the levels 1.1163 – 1.1249. The level 1.0991 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 1.2388.
Main scenario: long positions will be relevant from corrections above the level of 1.2388 with a target of 1.2704 – 1.2867.
Alternative scenario: Breakout and consolidation below the level of 1.2388 will allow the pair to continue declining to the levels of 1.2215 – 1.1960.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing on the daily time frame in the form of a zigzag. Wave C of (2) stopped developing on the H4 time frame and wave (3) is starting to develop at the moment. Apparently, the first wave of junior level i of 1 of (3) is developing on the H1 time frame, with wave (iii) of i developing inside. If the presumption is correct, the pair will continue to rise to the levels 1.2704 – 1.2867. The level 1.2388 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 1.0022.
Main scenario: short positions will be relevant from corrections below the level of 1.0022 with a target of 0.9656 – 0.9556.
Alternative scenario: breakdown and consolidation above the level of 1.0022 will allow the pair to continue the rise up to the levels of 1.0121 – 1.0228.
Analysis: Supposedly, an ascending correction of senior level in the form of wave (2) finished developing on the daily time frame and wave (3) started forming. The first wave 1 of (3) is forming on the H4 time frame, with a local correction of junior level ii of 1 developed as a part of it. On the H1 time frame, apparently, wave (с) of ii has formed and wave iii of 1 is starting to develop at the moment. If the presumption is correct, the pair will continue to drop to the levels 0.9656 – 0.9556. The level of 1.0022 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels 1.0121 – 1.0228.
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The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 106.77.
Main scenario: long positions will be relevant from corrections above the level of 106.77 with a target of 109.35 – 112.32.
Alternative scenario: Breakout and consolidation below the level of 106.77 will allow the pair to continue declining to the levels of 105.71 – 104.43.
Analysis: Supposedly, a large correction has stopped forming on the daily time frame in the form of wave (B) of senior level and wave (С) is starting to form. Presumably, the first wave of junior level i of 1 of (C) is developing on the H4 time frame, with wave (iii) of i formed inside. Apparently, a local correction is developing on the H1 time frame in the form of wave (iv) of i. If the presumption is correct, the pair may be expected to rise to the levels of 109.35 – 112.32 once the correction is completed. The level 106.77 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 1.3210.
Main scenario: long positions will be relevant from corrections above the level of 1.3210 with a target of 1.3384 – 1.3564.
Alternative scenario: Breakout and consolidation below the level of 1.3210 will allow the pair to continue declining to the levels of 1.3127 – 1.3014.
Analysis: Supposedly, a descending correction finished developing on the D1 time frame in the form of the second wave of senior level (2) and wave (3) started forming. The first wave of junior level i of 1 of (3) and local correction ii of 1 of (3) have formed on the H4 time frame. Apparently, the third wave iii of 1 started developing on the H1 time frame, with wave (i) of iii forming inside. If the presumption is correct, the pair will continue to rise to the levels 1.3384 – 1.3564. The level 1.3210 is critical in this scenario.
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