Wave analysis and forecast of 24.10 – 31.10

EUR/USD Wave analysis and forecast of 24.10 – 31.10: The pair is likely to decline.
Estimated pivot point is at the level of 1.2840.

Our opinion: Sell the pair from correction below the level of 1.2840 with the targets of 1.25 – 1.24 – 1.23.

Alternative scenario: Breakout and consolidation of the price above of the level of 1.2840 will enable the price to continue growth to the levels of 1.2950 – 1.30.

Analysis: Presumably, the formation of the “bullish” correction as the fourth wave has completed. Locally, one-two one-two momentum as the first wave (i) of v is nearing completion. If this assumption is correct, it makes sense to expect that the pair will decline in the fifth wave to the levels of 1.25 – 1.24 – 1.23. Critical level for this scenario is 1.2840. 

 

GBP/USD Wave analysis and forecast of 24.10 – 31.10: Decline in the pair is likely to continue.
Estimated pivot point is at the level of 1.5870.

Our opinion: Buy the pair from correction above the level of 1.5870 with the target of 1.6380 – 1.64.

Alternative scenario: Breakout and consolidation below the level of 1.5870 will allow the price continue the decline to the levels of 1.58 – 1.57 in the “bearish” trend.

Analysis: In accordance with the existing wave pattern of the down-wave we can assume that the wave A of the senior level has completed, taking a shape of a wedge. Locally, it seems that the formation of the wave B has started and within this wave there is one-two one-two momentum (a) and correction to it (b). If this assumption is correct, following the completion of the wave (b) it is expected that the price will rise up to the levels of 1.6380 – 1.64. Critical level for this scenario is 1.5870. 

 

USD/CHF Wave analysis and forecast of 24.10 – 31.10: The pair is likely to grow.
Estimated pivot point is at the level of 0.9390.

Our opinion: Buy the pair from correction above the level of 0.9390 with the target of 0.97 – 0.98.

Alternative scenario: Buy the pair from correction above the level of 0.9390 with the target of 0.97 – 0.98.

Analysis: Presumably, the formation of the local correction as the fourth wave 4 has completed. Locally, one-two one-two momentum as the first wave is being formed and if this assumption is correct, it is likely that following the completion of the small correction (ii), the price can go up in the fifth wave to the levels of 0.97 – 0.98. Critical level for this scenario is the level of 0.9390. 

 

USD/JPY Wave analysis and forecast of 24.10 – 31.10: The rise in the pair has resumed.
Estimated pivot point is at the level of 106.17.

Our opinion: Buy the pair from correction above the level of 106.17 with the target of 110.00 – 111.00.

Alternative scenario: Breakout and consolidation of the price below the level of 106.17 will enable the pair to continue the decline to the level of 104.50.

Analysis: Presumably, the formation of the “bearish” correction as the fourth wave 4 of (5) has completed in the developing diagonal triangle within the fifth wave of the senior level. Locally, the first one-two one-two wave is being formed. If this assumption is correct, it makes sense to expect that the pair will grow in the fifth final wave 5 of (5) to the level of 111.0.  

 

USD/СAD Wave analysis and forecast of 17.10 – 24.10: Uptrend continues.
Estimated pivot point is at the level of 1.1080.

Our opinion: Buy the pair above the level of 1.1080 with the target of 1.14 – 1.15.

Alternative scenario: Breakout and consolidation of the price below the level of 1.1080 will enable the pair to continue the decline to the levels of 1.10 – 1.09.

Analysis: Presumably, the formation of the fourth wave iv of the senior level has completed. Locally it seems that the price is going to reverse and small one-two one two wave are being formed. If this assumption is correct and the price does not break down critical level of 1.1180, the pair is likely to rise to the levels of 1.14 – 1.15 in the fifth wave.

Wave analysis and forecast of 17.10 – 24.10

EUR/USD Wave analysis and forecast of 17.10 – 24.10: Correction is nearing completion. The pair is likely to decline.
Estimated pivot point is at the level of 1.29.

Our opinion: Sell the pair from correction below the level of 1.29 with the targets of 1.25 – 1.24 – 1.23.

Alternative scenario: Breakout and consolidation above of the level of 1.29 will enable the price to continue growth to the levels of 1.2950 – 1.30.

Analysis: Presumably, the formation of the “bullish” correction as the fourth wave, having a shape of the zigzag, is nearing completion. If this assumption is correct and the price does not consolidate above the level of1.29, it makes sense to expect that the pair will go down to the levels of 1.25 – 1.24 – 1.23 in the fifth wave.  

 

GBP/USD Wave analysis and forecast of 17.10 – 24.10: The decline in the pair is likely to continue.
Estimated pivot point is at the level of 1.6222.

Our opinion: Sell the pair from correction below the level of 1.6222 with the target of 1.58 – 1.55.

Alternative scenario: Breakout and consolidation above the level of 1.6222 will allow the price continue the rise up to the levels of 1.6520 – 1.66.

Analysis: Presumably, the third wave of the “bearish” momentum is being developed, within which the correction as the second wave of the junior level (ii) of iii is nearing completion. If this assumption is correct and the price does not break down the critical level of 1.6222, in the medium-term the pair can continue the decline up to the levels of 1.57 – 1.55. 

 

USD/CHF Wave analysis and forecast of 17.10 – 24.10: Local correction is nearing completion. The pair is likely to grow.
Estimated pivot point is at the level of 0.9360.

Our opinion: Buy the pair from the correction above the level of 0.9360 with the target of 0.97 – 0.98.

Alternative scenario: Breakout and consolidation below of the level of 0.9360 will make the pair continue to decline to the levels of 0.9268.

Analysis: Presumably, the formation of the local correction as the fourth wave 4 is nearing completion, in the frame of which we can see almost completed zigzag that has nearly reached correction level of 38% from the third wave. If this assumption is correct, in the near future the price can go up to the levels of 0.97 – 0.98 in the fifth wave. 

 

USD/JPY Wave analysis and forecast of 17.10 – 24.10: Formation of the local correction.
Estimated pivot point is at the level of 104.47.

Our opinion: Wait for the completion of correction and in case of the confirming signals, buy the pair above the level of 104.47 with the targets of 110.00 – 111.00.

Alternative scenario: Breakout and consolidation of the price below the level of 104.47 will enable the pair to continue the decline to the level of 101.00.

Analysis: Presumably, the formation of the “bearish” correction as the fourth wave of the senior level 4 of (5) continues in the developing diagonal triangle in the fifth wave of the senior level. If this assumption is correct, it makes sense to expect that the pair will reverse and start to grow in the fifth final wave 5 of (5) up to the level of 111.0.  

 

USD/СAD Wave analysis and forecast of 17.10 – 24.10: Uptrend continues. Locally, the pair is undergoing correction.
Estimated pivot point is at the level of 1.1080.

Our opinion: Wait for the completion of correction and buy the pair, in case of the confirming signals, above the level of 1.1080 with the target of 1.14 – 1.15.

Alternative scenario: Breakout and consolidation of the price below the level of 1.1080 will enable the pair to continue the decline to the levels of 1.10 – 1.09.

Analysis: Presumably, the formation of the third wave iii of the senior level has completed. It is likely that within this wave the fifth wave of the junior level (v) of iii has been flattened. Locally, correction in the fourth wave is being formed. If this assumption is correct, following the completion of the correction the pair can go up to the levels of 1.14 – 1.15 in the fifth wave.