EUR/USD
The pair EUR/USD is 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 1.1625.
Alternative scenario: Breakout and consolidation below the level of 1.1300 will allow the pair to continue declining to the levels of 1.1250 – 1.1200.
Analysis: In the daily time frame, an upward impetus is formed as the first wave of senior level (1) and a downward correction continues forming as wave (2). Supposedly, a descending impetus in the form of the wave А of (2) finished developing on the 4-hour time frame. Apparently, the pair may be going to reverse into the wave B of (2) and the first counter-trend wave of junior level i of (i) has been formed on the 1H time frame. If the presumption is correct, the pair will logically rise to a level of 1.1625. The level 1.1300 is critical in this scenario.
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Probability of correctional growth for GBP/USD Estimated pivot point is at a level of 1.2661.
Main scenario: long positions will be relevant from corrections above the level of 1.2661 with a target of 1.2870 – 1.2935.
Alternative scenario: Breakout and consolidation below the level of 1.2661 will allow the pair to continue declining to the levels of 1.2580 – 1.2500.
Analysis: Supposedly, the first wave of senior level (1) has been formed as an impetus on the daily time frame and a downward correction continues forming as the second wave (2). The wave C of (2), supposedly, is developing on the 4H time frame, with the wave iii of C formed inside. Apparently,a local upward correction starts developing in the form of the wave iv of C on the 1H frame. If the presumption is correct, the pair will continue rising to 1.2870 – 1.2935. The level 1.2661 is critical in this scenario.
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The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 1.0068.
Main scenario: short positions will be relevant from corrections below the level of 1.0068 with a target of 0.9818 – 0.9745.
Alternative scenario: breakout and consolidation above the level of 1.0068 will allow the pair to continue rising to a level of 1.0115.
Analysis: Supposedly, an ascending impetus finished forming as the first wave of senior level 1 of (3) within the daily time frame. A downward correction is forming as the wave 2 of (3) on the 4-hour timeframe. Apparently, a local correction of junior level b of 2 is nearing completion on the 1H time frame. If the presumption is correct, the pair will continue to fall to the levels 0.9818 – 0.9745 within the wave c of 2 once the correction has finished. The level 1.0068 is critical in this scenario.
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The pair USD/JPY is still likely to fall. Estimated pivot point is at a level of 111.42.
Main scenario: short positions will be relevant from corrections below the level of 111.42 with a target of 109.93 – 109.35.
Alternative scenario: breakout and consolidation above the level of 111.42 will allow the pair to continue rising to a level of 113.22.
Analysis: Supposedly, the wave B of senior level is developing within the daily timeframe, with the wave (C) of B developing inside the wave B. Supposedly, a local correction continues forming in the form of wave 2 of C taking a shape of an irregular plane on the 4-hour time frame. On the 1H time frame, the wave c of 2 is forming now, with the wave (iv) of c of junior level developed and the wave (v) of c forming within. If the presumption is correct, the pair will continue to drop to the levels 109.93 – 109.35. The level 111.42 is critical in this scenario.
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Ascending trend for the pair USD/CAD continues. Estimated pivot point is at a level of 1.2960.
Main scenario: long positions will be relevant from corrections above the level of 1.2960 with a target of 1.3385 – 1.3500.
Alternative scenario: breakout and consolidation below the level of 1.2960 will allow the pair to continue declining to a level of 1.2740.
Analysis: Supposedly, the first wave of senior level 1 of (5) continues to develop within the daily time frame in the form of a wedge. The fifth wave v of 1 continues developing on the 4-hour timeframe. Apparently, a local correction in the form of the fourth wave of junior level (iv) of v finished forming on the 1H time frame and the wave i of (v) of v has formed. If the presumption is correct, the pair will continue to rise to levels 1.3385 – 1.3500. The level 1.2960 is critical in this scenario.
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