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Forex Wave analysis and forecast of 17.07

2015-08-05 11:27:19 / 个人分类:Forex

EUR/USD Wave analysis and forecast of 17.07 – 24.07: The formation of the downward correction continues.

Estimated pivot point is at a level of 1.1210.

Our opinion: Wait for the completion of the upward correction and sell the pair below the level of 1.1210 with the target of 1.08 – 1.07. 


Alternative scenario: Breakout of the level of 1.1210 and consolidation below this level, will enable the price to continue decline to 1.08 – 1.07.

Analysis: The formation of the “bearish” correction of the senior level continues in the wave 2. Locally, it is assumed that the wave С of 2 is being developed within which the impetus as the wave (a) of C has been formed and the upward correction as the wave (b) of C can be developed. If this assumption is correct, after its completion the pair will continue to decline to 1.08 – 1.07. Critical level for this scenario is 1.1210. Breakdown of this level will enable the pair to resume the rise.
EURUSD H1 

EURUSD H4

GBP/USD Wave analysis and forecast of 17.07 – 24.07: The pair is likely to grow.

Estimated pivot point is at a level of 1.5328.

Our opinion: Buy the pair above the level of 1.5328 with the target of 1.58 – 1.63.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.5328 will enable the pair to continue decline to 1.50.

Analysis: Presumably, the wave С of 2 continues to develop as part of the “bullish” correction of the senior level. At the moment it seems that the formation of the local correction as the wave ii of C has completed. At the same time the third wave is being developed, within which the wave (i) of iii seems being formed. If this assumption is correct and the price does not break down the critical level of 1.5328, the pair can continue to rise up to 1.63 in the third wave.
GPBUSD H1 

GPBUSD H4 

USD/CHF Wave analysis and forecast for 17.07 – 24.07: The pair is likely to grow.

Estimated pivot point is at a level of 0.9326.

Our opinion: Buy the pair from correction above the level of 0.9326 with the target of 0.9840. In case of breakdown of the level of 0.9326, sell with the target of 0.91.

Alternative scenario: Breakout and consolidation of the price below the level of 0.9326 will allow the decline to continue to 0.91 – 0.90.

Analysis: Presumably, the third wave of the senior level 3 continues to develop; within this wave the one-two wedge (i) of iii of 3 has been formed and the local correction (ii) of iii has completed. If this assumption is correct, the pair can continue to grow up to 0.9840. Critical level for this scenario is 0.9326.
USDCHF H1 

USDCHF H4

USD/JPY Wave analysis and forecast of 17.07 – 24.07: Growth in the pair has resumed.

Estimated pivot point is at a level of 120.35.

Our opinion: In the short-term: wait for the completion of the impetus and sell the pair with the target of 122.50 – 122.00. In the medium-term: wait for the completion of the correction and buy the pair above the level of 120.35 with the target of 126.00 – 128.00.

Alternative scenario: Breakdown and consolidation of the price below the level of 120.35 will trigger the decline in the pair to 118.00 – 117.00.

Analysis: The American dollar is strengthening against the Japanese Yen. Due to the resumed growth in the pair we can assume that the fifth wave continues to develop in the long-term “bullish” trend. At the moment it is likely that the one-two impetus as the first wave (i) is being formed in the third wave iii of 5. If this assumption is correct, after its completion we can expect the local correction to the levels of 122.50 – 122.00. In the medium-term the pair is likely to grow. Critical level for this scenario is 120.35.
USDJPY H1

USDJPY H4

USDJPYDaily

USD/СAD Wave analysis and forecast of for 17.07 – 24.07: Uptrend continues.

Estimated pivot point is at a level of 1.2650.

Our opinion: Buy the pair from correction above the level of 1.2650 with the target of 1.3060 – 1.33. 

Alternative scenario: Breakout and consolidation of the price below the level of 1.2650 enable the pair to continue decline to 1.25 – 1.24.

Analysis: Presumably, the formation of the third wave of the senior level iii of 5 is nearing completion. Locally, it is likely that the “bullish” impetus is being developed in the fifth wave of the junior level (v) of iii. If this assumption is correct, the pair can continue to grow up to 1.3060. It is possible that from this level the local correction will develop in the fourth wave of the senior level. Critical level for this scenario is 1.2650.



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