Wave analysis and forecast for 02/11/2018 – 09/11/2018

                                                    EUR/USD

The EUR/USD rate is still likely to grow. Estimated pivot point is at a level of 1.1300.

Main scenario: long positions will be relevant from corrections above the level of 1.1300 with a target of 1.1623 – 1.1813.

Alternative scenario: Breakout and consolidation below the level of 1.1300 will allow the pair to continue falling to the levels of 1.1200 – 1.1100.

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 b of B, formed inside. Apparently, the wave c of В started developing on the H1 frame, with the first wave of senior level (i) of c developing inside. If the presumption is correct, the pair may continue rising to the levels 1.1623 – 1.1813. The level 1.1300. is critical in this scenario.

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                                                                     GBP/USD

The GBP/USD rate is still likely to grow. Estimated pivot point is at a level of 1.2690.

Main scenario: long positions will be relevant from corrections above the level of 1.2690 with a target of 1.3305 – 1.3510.

Alternative scenario: Breakout and consolidation below the level of 1.2690 will allow the pair to continue falling to the levels of 1.2550 – 1.2450.

Analysis: Supposedly, a downward correction in the form of the wave (2) continues developing in the daily time frame with the wave A of (2) formed within. Supposedly, the plane-shaped wave B of (2) is is forming in the H4 time frame, with the wave b of B formed inside. Apparently, an upward momentum has been formed in the form of the wave (i) of c in the H1 time frame. If the presumption is correct, the pair may continue growing to the levels 1.3305 – 1.3510. The level 1.2690 is critical in this scenario.

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                                                                     USD/CHF

The USD/CHF rate is likely to decline. Estimated pivot point is at a level of 1.0092.

Main scenario: short positions will be relevant below the level of 1.0092 with a target of 0.9724 – 0.9620.

Alternative scenario: Breakout and consolidation above the level of 1.0092 will allow the pair to continue rising to the levels of 1.0170 – 1.0238.

Analysis: The first wave of senior level 1 of (3) has been complete and the downward correction 2 of (3) is developing on the daily time frame.  On H4 time frame, the wave A of 2 is complete and, supposedly, the local correction B of 2 has finished forming. Apparently, the wave C of 2 started developing on H1 time frame. Therefore, if the presumption is correct, the pair will continue declining to the levels 0.9724 – 0.9620. The level 1.0092 is critical in this scenario.

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                                                                     USD/JPY

The USD/JPY rate is still likely to grow. Estimated pivot point is at a level of 111.60.

Main scenario: long positions will be relevant from corrections above the level of 111.60 with a target of 115.00 – 116.50.

Alternative scenario: Breakout and consolidation below the level of 111.60 will allow the pair to continue falling to the level of 109.76.

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 i of 3 forming inside. Apparently, a local correction of junior level in the form of wave (iv) of i finished forming on the H1 time frame and the wave (v) of i started developing. If the presumption is correct, the pair will continue rising to the levels of 115.00 – 116.50. The level 111.60 is critical in this scenario.

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                                                                     USD/CAD

The USD/CAD rate is likely to decline. Estimated pivot point is at a level of 1.3170.

The USD/CAD rate is likely to decline. Estimated pivot point is at a level of 1.3170.

Main scenario: short positions will be relevant from corrections below the level of 1.3170 with a target of 1.2887 – 1.2735.

Alternative scenario: Breakout and consolidation above the level of 1.3170 will allow the pair to continue rising to the levels of 1.3280 – 1.3384.

Analysis: 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 of junior level is complete in the form of wave b of 2 that has taken an irregular plane shape. Apparently, the wave c of 2 starts developing on H1 time frame. If the presumption is correct, the pair will continue declining towards the levels 1.2887 – 1.2735. The level 1.3170 is critical in this scenario.

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Wave analysis and forecast for 05/10/2018 – 12/10/2018

                                                 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.

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                                                  GBP/USD

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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                                                                  USD/CHF

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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                                                                   USD/JPY

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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                                                                   USD/CAD

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.

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