EUR/USD Wave analysis and forecast of 28.08 – 04.09: The pair is expected to grow.
Estimated pivot point is at a level of 1.0804.
Our opinion: Wait for completion of correction and buy the pair above a level of 1.0804 with a target at about 1.1850 – 1.20.
Alternative scenario: Breakout of the level 1.0804 and consolidation below will allow the pair to continue declining to levels 1.06 – 1.05.
Analysis: Supposedly, the third wave of senior level 3 continues to form. Apparently, the first counter-trend wave of junior wave level i of 3 shaped like a diagonal with the extended fifth wave stopped forming locally. A correction in a form of the wave ii of 3 that reached the level of 50% at 1.1260 started to form. If the presumption is correct, after correction, the pair will continue to grow to the levels 1.1850 – 1.20. The level of 1.0804 is critical in this scenario as the breakout will enable the pair to continue declining to the levels 1.06 - 1.05.
GBP/USD Wave analysis and forecast of 28.08 – 04.09: The pair is expected to decline.
Estimated pivot point is at a level of 1.5819.
Our opinion: Wait for completion of an ascending correction (ii) of C and sell the pair below the level of 1.5819 with a target at about 1.52. Buy the pair with a target of 1.60 – 1.62 in case the level 1.5819 is broken.
Alternative scenario: Breakout and consolidation above the level of 1.5819 will allow the pair to continue the rise up to the levels of 1.60 – 1.62.
Analysis: Supposedly, a correction of senior level continues to form within the wave X, currently shaped like a plane. Apparently, an impetus within the first wave (i) of c has stopped forming, and a short-term growth to a level of 1.56 is expected. If the presumption is correct, after correction, the pair will continue to decline to the level at 1.52. The level of 1.5819, a top of the wave b of X, is critical in this scenario.
USD/CHF Wave analysis and forecast for 28.08 – 04.09: The pair is expected to decline.
Estimated pivot point is at a level of 0.9792.
Our opinion: Sell the pair from corrections below the level of 0.9792 with a target at 
0.9130 – 0.9050. Buy the pair with a target of 1.0 – 1.10 in case the level at 0.9792 is broken.
Alternative scenario: Breakout and consolidation above the level of 0.9792 will allow the pair to continue the rise up to the levels of 1.0 – 1.10.
Analysis: Supposedly, a big bearish correction in a form of the wave 2, within which a plane is expected to form, continues to develop. Apparently, the wave с of 2 is forming locally, with the first wave (i) forming within. If the presumption is correct, the pair will continue to decline to the levels 0.9130 – 0.9050. The local maximum level at 0.9792 is critical in this scenario.
USD/JPY Wave analysis and forecast of 28.08 – 04.09: Bearish correction continues to form.
Estimated pivot point is at a level of 125.30.
Our opinion: Wait for completion of correction and sell the pair below a level of 125.30 with a target at about 115.00 – 114.00.
Alternative scenario: Breakout and consolidation above the level of 125.30 will allow the pair to continue the rise up to the levels of 127.00 – 128.00.
Analysis: Apparently, a big bearish correction in a form of fourth wave (4) continues to develop. Apparently, the first zigzag-shaped wave А of (4) has formed locally, and the wave B is forming now. If the assumption is correct, another wave of decline can be logically expected after correction, to about 115.00 – 114.00. The level of 125.30 is critical in this scenario.
USD/СAD Wave analysis and forecast of for 28.08 – 04.09: Uptrend continues.
Estimated pivot point is at a level of 1.3012.
Our opinion: Buy the pair from corrections above the level of 1.3012 with a target of 1.35 – 1.36.
Alternative scenario: Breakout and consolidation below the level of 1.3012 will allow the pair to continue declining to a level of 1.2660.
Analysis: Supposedly, the formation of an ascending impetus within the third wave of senior level (3) is nearing completion. Apparently, the fifth wave of junior level v of 5 of (3) is forming locally. If the presumption is correct, the pair will logically continue to rise to a level of 1.35. The level of 1.3012 is critical in this scenario as the breakout will make the pair decline to about 1.2660.Supposedly, the formation of an ascending impetus within the third wave of senior level (3) is nearing completion. Apparently, the fifth wave of junior level v of 5 of (3) is forming locally. If the presumption is correct, the pair will logically continue to rise to a level of 1.35. The level of 1.3012 is critical in this scenario as the breakout will make the pair decline to about 1.2660.
EUR/USD Wave analysis and forecast of 21.08 – 28.08: Probability of the decline as part of the correction.
Estimated pivot point is at a level of 1.0840.
Our opinion: Wait for the completion of the correction and buy the pair above the level of 1.0840 with the target of 1.1800, in case of the confirmation signals.
Alternative scenario: Breakout of the level of 1.0840 and consolidation below this level will trigger further decrease in price up to 1.07.
Analysis: Presumably, the third wave of the senior level 3 is being formed. Locally, it is likely that the first i of 3, which currently has shape of a diagonal, has completed. If this assumption is correct, following the local correction, the pair will continue to rise to 1.1800. Critical level for this scenario is 1.0840. Breakout of this level will enable the price to go down to 1.07. It is not recommended to sell in the current situation as the formation of the wave extension is possible.
GBP/USD Wave analysis and forecast of 21.08 – 28.08: Growth in the pair in likely to continue.
Estimated pivot point is at a level of 1.5555.
Our opinion: Buy the pair from correction above the level of 1.5555 with the target of 1.58 – 1.60.
Alternative scenario: Breakout and consolidation of the price below the level of 1.5555 will allow the pair to continue to decline to the level of 1.53 – 1.54.
Analysis: Presumably, the large correction has completed in the wave B, which took a shape of a triangle and the wave C started to develop. Locally, it is likely that the first wave i of C is being formed, within which probably the third wave of the junior level (iii) is being developed. If this assumption is correct and the price does not break down the critical level of 1.5555, the pair can continue to rise up to 1.58 – 1.60.
USD/CHF Wave analysis and forecast for 21.08 – 28.08: The pair is likely to decline.
Estimated pivot point is at a level of 0.9792.
Our opinion: Sell the pair from correction below the level of 0.9792 with the target of 0.9430 – 0.9130. In case of breakdown of the level of 0.9792, buy with the target of 1.0 – 1.10.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9792 will enable the pair to rise up to 1.0 – 1.10.
Analysis: Presumably, the formation of the large “bearish” correction continues as the wave 2, within which a plane is expected to be formed. Locally, it seems that the wave с of 2 is being formed, within which the one-two impetus as the wave (i) is being developed. If this assumption is correct, the pair will continue to decline to the levels of 0.9430 – 0.9130. Critical level for this scenario is the local high of 0.9792.
USD/JPY Wave analysis and forecast of 21.08 – 28.08: Formation of the “bearish” correction.
Estimated pivot point is at a level of 124.56.
Our opinion: Sell the pair from correction below the level of 124.56 with the target of 121.50 – 121.00. In case of breakout of the level of 124.56, buy with the target of 127.55.
Alternative scenario: Breakout and consolidation of the price above the level of 124.56 will allow the pair to continue growth up to 127.55.
Analysis: It is likely that the formation of the third wave (3) of the senior level has completed on the daily timeframe. Locally, it seems that the large “bearish” correction as the fourth wave (4) with the target level of 117.00 has started, within which the one-two impetus is being formed as the first wave. If this assumption is correct and the price does not breakdown the critical level of 124.56, the pair will continue to decline to 121.50 – 121.00. In the critical level is broken down, the pair will rise up to 127.55.
USD/СAD Wave analysis and forecast of for 21.08 – 28.08: Formation of the local correction.
Estimated pivot point is at a level of 1.3180.
Our opinion: In the short-term: sell the pair from correction below the level of 1.3180 with the target of 1.2785. In the medium-term: wait for the completion of the correction and buy the pair in case of the one-two one-toe impetus and confirming signals, with the target of 1.35 – 1.36.
Alternative scenario: Breakout and consolidation of the price above the level of 1.3180 will allow the pair to continue growth up to 1.35 – 1.36.
Analysis: Presumably, the formation of the third wave of the senior level iii of 5 has completed. Locally, it seems the correction as the fourth wave iv is being formed and within which the first wave (a) has been formed as a diagonal and the correction in the wave (b). If this assumption is correct, in the short-term, the pair can continue to decline to 1.2785 within the wave (с). Critical level for this scenario is 1.3180. Breakdown of this level will enable the pair to continue growth.
