EUR/USD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.0991.
Main scenario: long positions will be relevant from corrections above the level of 1.0991 with a target of 1.1210 – 1.1409.
Alternative scenario: Breakout and consolidation below the level of 1.0991 will allow the pair to continue declining to the levels of 1.0879 – 1.0800.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave 2 finished developing on the daily time frame as a zigzag, with wave (С) of 2 formed inside. Supposedly, the third wave 3 is starting to develop on the H4 time frame with the first counter-trend wave of junior level i of 1 of (1) of 3 forming inside. Apparently, an ascending impetus is forming as wave (iii) of i of 1 on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.1210 – 1.1409. The level 1.0991 is critical in this scenario.
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The pair GBP/USD is still likely to grow. Estimated pivot point is at a level of 1.2598.
Main scenario: long positions will be relevant from corrections above the level of 1.2598 with a target of 1.3167 – 1.3387.
Alternative scenario: Breakout and consolidation below the level of 1.2598 will allow the pair to continue declining to the levels of 1.2197 – 1.1957.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing on the daily time frame as a zigzag. On the H4 time frame, wave (3) has started forming, with the first wave 1 of (3) forming inside. On the H1 time frame, apparently, the third wave of junior level iii of 1 of (3) is about to finish forming. If the presumption is correct, after the local correction iv of 1 has formed, the pair will continue to rise to the levels of 1.3167 – 1.3387. The level 1.2598 is critical in this scenario.
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The pair USDCHF is likely to fall. Estimated pivot point is at a level of 0.9997.
Main scenario: short positions will be relevant from corrections below the level of 0.9997 with a target of 0.9656 – 0.9556.
Alternative scenario: breakdown and consolidation above the level of 0.9997 will allow the pair to continue the rise up to the levels of 1.0121 – 1.0230.
Analysis: Supposedly, an ascending correction of senior level finished developing in the form of wave (2) on the daily time frame and wave (3) has started forming. Presumably, the local correction of junior level ii of 1 of (3) has formed on the H4 time frame, with wave (c) of ii formed inside. Apparently, wave iii of 1 of (3) started developing on the H1 time frame, with the first counter-trend wave of junior level (i) of iii forming inside. If the presumption is correct, the pair will logically drop to the levels of 0.9656 – 0.9556. The level of 0.9997 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels 1.0121 – 1.0230.
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The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 107.71.
Main scenario: long positions will be relevant from corrections above the level of 107.71 with a target of 110.50 – 112.32.
Alternative scenario: Breakout and consolidation below the level of 107.71 will allow the pair to continue declining to the levels of 106.42 – 104.43.
Analysis: On the daily time frame, supposedly, a large correction has been completed in the form of wave (B) of senior level and wave (С) is starting to form. On the H4 time-frame, apparently, the first wave i of 1 of (С) has formed and correction ii of 1 has finished developing. Apparently, the third wave iii of 1 started developing on the H1 time frame, with a counter-trend impulse formed inside as the first wave of junior level (i) of iii. If the presumption is correct, after correction (ii) of iii, the pair will continue to rise to the levels of 110.50 – 112.32. The level 107.71 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 1.3012.
Main scenario: long positions will be relevant from corrections above the level of 1.3012 with a target of 1.3450 – 1.3564.
Alternative scenario: Breakout and consolidation below the level of 1.3012 will allow the pair to continue declining to the levels of 1.2849 – 1.2656.
Analysis: On the D1 time frame, supposedly, a descending correction finished developing in the form of the second wave of senior level (2) and wave (3) has started forming. The first wave of junior level i of 1 of (3) has formed and the local correction ii of 1 of (3) is about to finish developing on the H4 time frame. Apparently, a descending impulse is developing in the form of wave (c) of ii on the H1 time frame. If the presumption is correct, the pair may be expected to start rising to the levels of 1.3450 – 1.3564 once the impulse ends forming. The level 1.3012 is critical in this scenario.
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