EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1589.
Main scenario: long positions will be relevant from corrections above the level of 1.1589 with a target of 1.1850.
Alternative scenario: Breakout and consolidation below the level of 1.1589 will allow the pair to continue declining to the levels of 1.1439 – 1.1320.
Analysis: On the daily time frame, an upward impetus is formed as the first wave of senior level (1) and a downward correction continues forming as wave (2). On the 4-hour time frame, a downward impetus continues forming within the wave A of (2), with an ascending correction forming inside in the form of the wave iv of A. On the 1-hour time frame, apparently, the wave (c) of iv is forming. If the presumption is correct, the pair will continue to rise to the level of 1.1850. The level 1.1589 is critical in this scenario.
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The pair GBP/USD is still likely to fall. Estimated pivot point is at a level of 1.3277.
Main scenario: short positions will be relevant below the level of 1.3277 with a target of 1.3011 – 1.2926.
Alternative scenario: breakout and consolidation above the level of 1.3277 will allow the pair to continue rising to a level of 1.3477.
Analysis: Supposedly, the first wave of senior level (1) is formed as an impetus within the daily timeframe. A downward correction in the form of the second wave (2) is developing in the 4-hour time-frame, with the wave C of (2) forming within. Apparently, an upward correction of junior level iv of C is completed on the 1H time frame. If the presumption is correct, the pair will resume falling to the levels of 1.3011 – 1.2926 . The level 1.3277 is critical in this scenario.
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Ascending trend for the pair USD/CHF continues. Estimated pivot point is at a level of 0.9852.
Main scenario: long positions will be relevant from corrections above the level of 0.9852 with a target of 1.0057 – 1.0190.
Alternative scenario: breakout and consolidation below the level of 0.9852 will allow the pair to continue declining to the levels at 0.9745 – 0.9668.
Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) on the daily time frame. A downward correction in the form of wave iv of 1 has finished on the 4-hour time frame and the wave v of 1 has started forming. Apparently, the third wave of junior level (iii) of v continues forming now on the 1-hour time frame, with the wave ii of (iii) nearing completion inside. If the presumption is correct, the pair will continue to rise to levels 1.0057 – 1.0190. The level 0.9852 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 109.35.
Main scenario: long positions will be relevant from corrections above the level of 109.35 with a target of 111.40 – 112.60.
Alternative scenario: breakout and consolidation below the level of 109.35 will allow the pair to continue declining to the levels at 108.81 – 108.00.
Analysis: Supposedly, the wave B of senior level is developing on the daily timeframe, with the wave (C) of B starting to develop inside the wave B. On the 4-hour time frame, a counter-trend impetus is formed as wave1 of (C), a correction wave 2 of (C) is completed and the first wave of junior level i of 3 is formed. On the 1-hour time frame, the third wave iii of 3 is developing and the local correction (ii) of iii is completed inside, supposedly. If the presumption is correct, the pair will continue to rise to the levels 111.40 – 112.60 and higher. The level 109.35 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 1.3043.
Main scenario: long positions will be relevant above the level of 1.3043 with a target of 1.3500 – 1.3600.
Alternative scenario: Breakout and consolidation below the level of 1.3043 will allow the pair to continue declining to the levels of 1.2850 – 1.2735.
Analysis: Supposedly, the first wave of senior level 1 of (5) continues to develop on the daily time frame in the form of a wedge. The fifth wave v of 1 is developing on the 4-hour time frame. Apparently, the third wave of junior level (iii) of v continues forming now on the 1-hour time frame, with a local correction (iv) of iii nearing completion inside. If the presumption is correct, the pair will logically continue to rise to the levels 1.3500 – 1.3600. The level 1.3043 is critical in this scenario.
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