EUR/USD
The pair EUR/USD remains likely to grow. Estimated pivot point is at a level of 1.0977.
Main scenario: long positions will be relevant above the level of 1.0977 with a target of 1.1242 – 1.1406.
Alternative scenario:breakout and consolidation below the level of 1.0977 will allow the pair to continue declining to the levels of 1.0877 – 1.0800.
Analysis: Supposedly, a descending correction of senior level finished developing on the daily time frame in the form of the second wave 2 and the third wave 3 is starting to develop. On the H4 time frame, apparently, the first counter-trend wave 1 of (1) of 3 has formed, a descending correction is completed as the second wave 2 of (1) of 3 and wave 3 of (1) has started forming. On the H1 time frame, apparently, the first wave of junior level i of 3 of (1) has formed and a local correction has finished developing in the form of wave ii of 3 of (1). If the presumption is correct, the pair may be expected to rise to the levels of 1.1242 – 1.1406 as part of wave iii of 3. The level 1.0977 is critical in this scenario.
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The pair GBP/USD remains likely to fall. Estimated pivot point is at a level of 1.3281.
Main scenario: short positions should be considered from corrections below the level of 1.3281 with a target of 1.2735 – 1.2551.
Alternative scenario: Breakout and consolidation above the level of 1.3281 will allow the pair to continue declining to the levels of 1.3514 – 1.3800.
Analysis: Supposedly, a descending correction of senior level finished developing on the daily time frame in the form of the second wave 2 and wave (3) has started to develop. On the H4 time frame, supposedly, the first wave 1 of (3) has formed and a descending correction 2 of (3) is developing, with wave b of 2 forming as a triangle inside. Apparently, the ultimate wave of triangle (e) of b of 2 is forming on the H1 time frame. If this assumption is correct, the pair will continue to decline to the levels of 1.2735 – 1.2551 once the wave finishes forming. The level of 1.3281 is critical in this scenario as the breakout will enable the pair to continue rising to the levels of 1.3514 – 1.3800.
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The pair USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9818.
Main scenario: short positions should be considered from corrections below the level of 0.9818 with a target of 0.9550 – 0.9500.
Alternative scenario:breakout and consolidation above the level of 0.9818 will allow the pair to continue the rise up to the levels of 1.0022 – 1.0145.
Analysis: On the daily time frame, supposedly, an ascending correction of senior level has finished developing in the form of wave (2) and wave (3) has started forming. The third wave 3 of (3) is developing on the H4 time frame, with the first wave of junior level i of 3 forming inside. Apparently, a local correction is nearing completion in the form of wave (iv) of i on the H1 time frame. If this assumption is correct, the pair will continue to fall to the levels 0.9550 – 0.9500 once the correction’s over. The level of 0.9818 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.0022 – 1.0145.
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The pair USD/JPY remains likely to grow. Estimated pivot point is at a level of 107.66.
Main scenario: long positions should be considered from corrections above the level of 107.66 with a target of 111.00 – 112.35.
Alternative scenario:Breakout and consolidation below the level of 107.66 will allow the pair to continue declining to the levels of 106.46 – 104.48.
Analysis: On the daily time frame, supposedly, a large correction is completed in the form of wave (B) of senior level and ascending wave (С) has started to form, with the first wave 1 of (C) developing inside. On the H4 time-frame, apparently, the first wave of junior level i of 1 of (С) has formed and local correction ii of 1 has finished developing. Apparently, wave iii of 1 started forming on the H1 time frame, with wave (i) of iii formed and the local correction (ii) of iii nearing completion inside. If the presumption is correct, the pair will continue to rise to the levels of 111.00 – 112.35 once the correction is over. The level of 107.66 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 106.46 – 104.48.
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The pair USD/CAD remains likely to grow. Estimated pivot point is at a level of 1.2950.
Main scenario: long positions should be considered from corrections above the level of 1.2950 with a target of 1.3564 – 1.3666.
Alternative scenario:breakout and consolidation below the level of 1.2950 will allow the pair to continue declining to the levels of 1.2846 – 1.2656.
Analysis: Supposedly, a descending correction finished developing in the form of the second wave of senior level (2) on the D1 time frame. Supposedly, the third wave (3) starts developing on the H4 time frame with the first counter-trend wave of junior level (i) of i of 1 of (3) forming inside. Apparently, wave v of (i) is nearing completion on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.3564 – 1.3666 after the local correction (ii) of i of 1 of (3) has finished. The level of 1.2950 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of 1.2846 – 1.2656.
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