EUR/USD
The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1317.
Main scenario: short positions will be relevant below the level of 1.1317 with a target of 1.1020 – 1.0950.
Alternative scenario: breakout and consolidation above the level of 1.1317 will allow the pair to continue the rise up to the levels of 1.1447 – 1.1571.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave 2 continues developing on the D1 time frame with the wave C of 2 developing within. On the H4 time frame, presumably the third wave of junior level iii of 3 of (С) is developing, with the wave (i) of iii formed inside. On the H1 time frame, apparently the local correction (ii) of iii, which reached the correction level 62%, has finished developing. If the presumption is correct, the pair will logically drop to the levels 1.1020 – 1.0950. The level 1.1317 is critical in this scenario.
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Correction is completed, the pair GBP/USD is likely to continue growing. Estimated pivot point is at a level of 1.2550.
Main scenario: long positions will be relevant above the level of 1.2550 with a target of 1.3178 – 1.3377.
Alternative scenario: Breakout and consolidation below the level of 1.2550 will allow the pair to continue declining to the levels of 1.2241 – 1.2101.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing on the D1 frame in the form of a zigzag and the wave (3) started developing. On the H4 time frame, supposedly, the first counter-trend wave 1 of (3) has formed as a wedge and a descending correction of junior level 2 of (3) has developed. On the H1 time frame, apparently a descending impetus finished developing as the wave c of 2 and the wave 3 of (3) starts forming. If the presumption is correct, the pair will logically rise to the levels 1.3178 – 1.3377. The level 1.2550 is critical in this scenario.
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Correction is completed, the pair USD/CHF is likely to continue growing. Estimated pivot point is at a level of 0.9848.
Main scenario: long positions will be relevant from corrections above the level of 0.9848 with a target of 1.0241 – 1.0400.
Alternative scenario: breakout and consolidation below the level of 0.9848 will allow the pair to continue declining to the levels at 0.9715 – 0.9556.
Analysis: Supposedly, the third wave of senior level 3 of (3) continues to form on the D1 time frame. On the H4 time frame, supposedly the first wave i of 3 of (3) has formed as a wedge and a descending correction has supposedly finished developing in the form of the wave ii of 3 of (3). On the H1 time frame, apparently the wave (с) of ii has formed and the wave iii of 3 starts developing at the moment. If the presumption is correct, the pair will logically rise to the levels 1.0241 – 1.0400. The level 0.9848 is critical in this scenario.
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The USD/JPY pair is under correction, still likely to fall Estimated pivot point is at a level of 109.19.
Main scenario: short positions will be relevant from corrections below the level of 109.19 with a target of 107.51.
Alternative scenario: breakout and consolidation above the level of 109.19 will allow the pair to continue the rise up to the levels of 110.67 – 112.40.
Analysis: Supposedly, the wave of senior level (C) of B continues developing on the D1 time frame, with the wave 3 of (C) forming inside. On the H4 time frame, presumably there’s a descending correction ii of 3 forming in the form of a zigzag, with the wave (c) of ii developing inside. Apparently, the fourth wave of junior level iv of (c) has formed on the H1 time frame. If this assumption is correct, the pair will continue to drop to 107.51 inside the wave v of (c). The level 109.19 is critical in this scenario.
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The USD/CAD pair is under correction, still likely to grow. Estimated pivot point is at a level of 1.3255.
Main scenario: long positions will be relevant above the level of 1.3255 with a target of 1.3567 – 1.3661 once corrections have formed.
Alternative scenario: Breakout and consolidation below the level of 1.3255 will allow the pair to continue declining to the levels of 1.3109 – 1.3065.
Analysis: Supposedly, an ascending trend continues to form as the third wave of senior level 3 of (5) on the D1 time frame. On the H4 time-frame, the first wave of junior level i of 3 has formed and the downward correction ii of 3 is developing. Apparently, the wave (c) of ii is forming on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.3567 – 1.3661 once the wave finished forming. The level 1.3255 is critical in this scenario.
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