EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1650.
Main scenario: long positions will be relevant from corrections above the level of 1.1650 with a target of 1.1994.
Alternative scenario:Breakout and consolidation below the level of 1.1650 will allow the pair to continue declining to the levels of 1.1518 – 1.1435.
Analysis: Supposedly, the wave A of (2) of senior level continues forming within the daily time frame. Apparently, the third wave of junior level iii of A of junior level has been formed and an upward correction is developing now in the form of the wave iv of A, with the wave (a) of iv forming inside. If this assumption is correct, the pair will go on growing to the level of 1.1994. The level 1.1650 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 1.3202.
Main scenario: long positions will be relevant from corrections above the level of 1.3202 with a target of 1.3645.
Alternative scenario: breakout and consolidation below the level of 1.3202 will allow the pair to continue declining to a level of 1.3100.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. Apparently,the wave А of (2) has been formed locally and an ascending correction is developing in the form f the wave B of (2), with the wave a of B formed inside as a wedge. If the presumption is correct, the pair will logically rise to the level of 1.3645 after the correction b of B comes to an end. The level 1.3202 is critical in this scenario.
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The pair USD/CHF is expected to grow. Estimated pivot point is at a level of 0.9749.
Main scenario: long positions will be relevant above the level of 0.9749 with a target of 0.9985 – 1.0057.
Alternative scenario:breakout and consolidation below the level of 0.9749 will allow the pair to continue declining to the levels at 0.9668 – 0.9432.
Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) within the daily time frame. Apparently, a downward correction iv of 1 finishes forming now, with the wave (c) of iv formed within. If the presumption is correct, the pair will logically rise to the levels 0.9985 – 1.0057. The level 0.9749 is critical in this scenario.
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The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 108.11.
Main scenario: long positions will be relevant from corrections above the level of 108.11 with a target of 111.40.
Alternative scenario: Breakout and consolidation below the level of 108.11 will allow the pair to continue declining to a level of 107.22.
Analysis: Supposedly, an ascending impetus has been formed within the 4-hour time frame as the first wave of senior level 1 of (C). Apparently, a descending correction finished forming now as the second wave 2 of (C), and the wave 3 of (C) started forming, with a counter-trend impetus of junior level (i) of i of 3 formed within. If the presumption is correct, the pair will logically continue to rise to a level of 111.40. The level 108.11 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 1.2847.
Main scenario: long positions will be relevant from corrections above the level of 1.2847 with a target of 1.3300 – 1.3400.
Alternative scenario:breakout and consolidation below the level of 1.2847 will allow the pair to continue declining to a level of 1.2525.
Analysis: Supposedly, the first wave of senior level 1 of (5) continues to develop within the daily time frame in the form of a wedge. Apparently, the fifth wave of junior level v of 1 is forming now, with the wave (iii) of v forming inside. If the presumption is correct, the pair will continue to rise to levels 1.3300 – 1.3400. The level 1.2847 is critical in this scenario.
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