EUR/USD
The pair EUR/USD is likely to grow. Estimated pivot point is at a level of 1.1461.
Main scenario: long positions will be relevant from corrections above the level of 1.1461 with a target of 1.1635 – 1.1676.
Alternative scenario: breakout and consolidation below the level of 1.1461 will allow the pair to continue declining to a level of 1.1390.
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 A of (2) formed within. An upward correction B of (2), supposedly, is developing on the H4 time frame, with the wave (a) of x formed and the wave x of B developing inside. Apparently, the wave (a) of x is formed in the form of an impulse on the H1 frame. If the presumption is correct, the pair will rise to 1.1635 – 1.1676 under correction. The level 1.1461 is critical in this scenario.
The pair GBP/USD is still likely to grow. Estimated pivot point is at a level of 1.2920.
Main scenario: long positions will be relevant from corrections above the level of 1.2920 with a target of 1.3295 – 1.3474.
Alternative scenario: breakout and consolidation below the level of 1.2920 will allow the pair to continue declining to a level of 1.2654.
Analysis: Supposedly, the first wave of senior level (1) has been formed as an impetus on the daily time frame and a downward correction finished forming as the second wave (2). Supposedly, the first counter-trend wave of junior level i of 1 of (3) is forming on H4 time frame. On H1 time frame, the third wave (iii) of i has been formed and a downward correction (iv) of i is completed. If the presumption is correct, the pair will continue to rise to the levels 1.3295 – 1.3474. The level 1.2920 is critical in this scenario.
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The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9831.
Main scenario: long positions will be relevant from corrections above the level of 0.9831 with a target of 0.9982 – 1.0068.
Alternative scenario: breakout and consolidation below the level of 0.9831 will allow the pair to continue declining to the levels at 0.9739 – 0.9691.
Analysis: The first wave of senior level 1 of (3) and the downward correction 2 of (3) have been formed on the daily time-frame. On H4 time-frame, an upward impetus is developing in the form of the first wave of junior level i of 3. Apparently, the wave (iii) of i is nearing completion on the H1 time frame. If this assumption is correct, the pair will continue to rise to 0.9982 – 1.0068 after the local correction (iv) of i has finished. The level 0.9831 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 113.51.
Main scenario: long positions will be relevant above the level of 113.51 with a target of 115.00 – 115.50.
Alternative scenario: breakout and consolidation below the level of 113.51 will allow the pair to continue declining to the levels of 111.75 – 111.09.
Analysis: Supposedly, the wave (C) of B of senior level continues developing on the daily timeframe. On the 4-hour time frame, presumably the wave 3 of (C) is developing, with the wave iii of 3 forming inside. Apparently, the third wave of junior level (iii) of i continues developing on the H1 time frame. If this assumption is correct, the pair will continue to rise to 115.00 – 115.50. The level 113.51 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 1.3084.
Main scenario: short positions will be relevant from corrections below the level of 1.3084 with a target of 1.2740 – 1.2580.
Alternative scenario: breakout and consolidation above the level of 1.3084 will allow the pair to continue the rise up to the levels of 1.3227 – 1.3384.
Analysis: Supposedly, the wedge-shaped first wave of senior level 1 of (5) finished developing on the daily time frame, and the downward correction 2 of (5) is forming at the moment. On the H4 time frame, a correction is completed in the form of the wave b of 2 and the wave c of 2 is developing. Apparently, the third wave (iii) of c has been formed on the H1 time frame and an upward correction is nearing completion in the form of the wave (iv) of c. If the presumption is correct, the pair will continue to drop to the levels 1.2740 – 1.2580. The level 1.3084 is critical in this scenario.
