EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1266.
Main scenario: long positions will be relevant from corrections above the level of 1.1266 with a target of 1.1511 – 1.1586.
Alternative scenario: Breakout and consolidation below the level of 1.1266 will allow the pair to continue declining to the levels of 1.1200 – 1.1150.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. Presumably the wave С of (2) is developing on H4 timeframe, with the wave i of C formed and an ascending correction forming as wave ii of C inside. On H1 timeframe, apparently the wave (b) of ii has formed and the wave (c) of ii has started developing. If the presumption is correct, the pair will logically continue to rise to the levels 1.1511 – 1.1586. The level 1.1266 is critical in this scenario.
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The pair GBP/USD is still likely to fall. Estimated pivot point is at a level of 1.2925.
Main scenario: short positions will be relevant below the level of 1.2925 with a target of 1.2600 – 1.2500.
Alternative scenario: breakout and consolidation above the level of 1.2925 will allow the pair to continue the rise up to the levels of 1.3305 – 1.3510.
Analysis: Supposedly, a descending correction continues to develop within the daily frame in the form of the second wave (2) . Presumably the wave C of (2) is developing on the H4 time-frame, with the wave v of C forming inside. On the H1 time-frame, apparently, an upward correction of junior level (iv) of v finished developing and the wave (v) of v is forming at the moment. If the presumption is correct, the pair will continue to drop to the levels 1.2600 – 1.2500. The level 1.2925 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 1.0017.
Main scenario: short positions will be relevant below the level of 1.0017 with a target of 0.9859 – 0.9724.
Alternative scenario: breakout and consolidation above the level of 1.0017 will allow the pair to continue rising to a level of 1.0086.
Analysis: The first wave of senior level 1 of (3) has been formed on the daily time-frame and the downward correction 2 of (3) is developing now. On H4 time frame, presumably the local ascending correction of junior level B of (2) has finished in the form of a zigzag and the wave С of (2) has started developing. Apparently, the first wave i of C is forming now as an impetus on H1 time frame, with the wave (v) of i developing within. If the presumption is correct, the pair will continue to drop to the levels 0.9859 – 0.9724. The level 1.0017 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 114.03.
Main scenario: short positions will be relevant from corrections below the level of 114.03 with a target of 111.35 – 110.65.
Alternative scenario: breakout and consolidation above the level of 114.03 will allow the pair to continue rising to a level of 115.50.
Analysis: Supposedly, the wave of senior level (C) of B continues developing on the daily time frame, with the wave 1 of (C) formed inside. Presumably a local correction is forming as the wave 2 of (C) on the 4-hour time frame. Apparently, the wave c of 2 started developing on H1 time frame, with the local correction of junior level (ii) of c formed inside. If the presumption is correct, the pair will continue to drop to the levels 111.35 – 110.65. The level 114.03 is critical in this scenario.
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The pair USD/CAD is still likely to fall. Estimated pivot point is at a level of 1.3388.
Main scenario: short positions will be relevant below the level of 1.3388 with a target of 1.2887 – 1.2735.
Alternative scenario: breakout and consolidation above the level of 1.3388 will allow the pair to continue rising to a level of 1.3550.
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, an upward correction of junior level finished developing in the form of wave b of 2 that took an irregular plane shape. Apparently, the wave c of 2 begins developing on the 1H time frame. If the presumption is correct, the pair may be expected to fall to the levels of 1.2887 – 1.2735. The level 1.3388 is critical in this scenario.
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