From Date: 18.10.2019 To Date: 25.10.2019(Weekly Update) Read wave analyses and forecasts for the main currency pairs for the next week in our traders’ blog.
The most popular currency pairs: EUR/USD, GBP/USD, USD/СAD, USD/JPY, USD/CHF, XAU/USD.
High-quality analyses provided by an independent wave analysis expert with many years of experience.
Signals and pivot points.
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.
GBP/USD 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.
USD/CHF 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.
USD/JPY 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.
USD/CAD 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.
XAU/USD The pair XAU/USD is still likely to grow. Estimated pivot point is at a level of 1458.80.
Main scenario: long positions will be relevant from corrections above the level of 1458.80 with a target of 1585.56 – 1650.00.
Alternative scenario: Breakout
and consolidation below the level of 1458.80 will allow the pair to
continue declining to the levels of 1412.74 – 1378.45.
Analysis: Supposedly,
the third wave of senior level iii of C of (B) continues forming on the
daily time frame, with wave (iii) of iii formed inside. On the H4 time
frame, apparently, the local correction has finished developing in the
form of wave (iv) of iii and wave (v) of iii has started forming.
Presumably, the counter-trend impulse of junior level i of (v) has
formed and the local correction ii of (v) has been completed on the H1
time frame. If the presumption is correct, the price will continue to
rise to the levels of 1585.56 – 1650.00. The level 1458.80 is critical
in this scenario.
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