From Date: 27.01.2020 To Date: 24.01.2020(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 remains likely to grow. Estimated pivot point is at a level of 1.1083.
Main scenario: long positions should be considered from corrections above the level of 1.1083 with a target of 1.1300 – 1.1410.
Alternative scenario:
breakout and consolidation below the level of 1.1083 will allow the
pair to continue declining to the levels of 1.0983 – 1.0881.
Analysis: Supposedly,
a descending correction of senior level finished developing on the
daily time frame in the form of the second wave 2 and the third wave 3
is starting to develop. On the H4 timeframe, apparently, the first
counter-trend wave 1 of (1) of 3 has formed, a descending correction is
completed as the second wave 2 of (1) of 3 and wave 3 of (1) has started
forming. On the H1 time frame, apparently, the first wave of junior
level i of 3 of (1) has formed and a local correction has finished
developing in the form of wave ii of 3 of (1). If the presumption is
correct, the pair may be expected to rise to the levels of 1.1300 –
1.1410 as part of wave iii of 3. The level 1.1083 is critical in this
scenario.
GBP/USD The pair GBP/USD remains likely to fall. Estimated pivot point is at a level of 1.3205.
Main scenario: short positions should be considered from corrections below the level of 1.3205 with a target of 1.2850 – 1.2735.
Alternative scenario:
breakout and consolidation above the level of 1.3205 will allow the
pair to continue the rise up to the levels of 1.3514 – 1.3727.
Analysis:
Supposedly, a descending correction of senior level in the form of a
zigzag-shaped second wave (2) finished developing on the daily time
frame. On the H4 time frame, wave (3) has started forming, with the
first wave 1 of (3) formed and correction 2 of (3) developing inside.
Apparently, wave c of 2 is developing on H1 time frame, with the local
correction (iv) of c completed inside. If the presumption is correct,
the pair will continue to drop to the levels of 1.2850 – 1.2735. The
level of 1.3205 is critical in this scenario as the breakout will enable
the pair to continue rising to the levels of 1.3514 – 1.3727.
USD/CHF The pair USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9761.
Main scenario: short positions should be considered from corrections below the level of 0.9761 with a target of 0.9550 – 0.9500.
Alternative scenario:
breakout and consolidation above the level of 0.9761 will allow the
pair to continue the rise up to the levels of 1.0022 – 1.0145.
Analysis: On
the daily time frame, supposedly, an ascending correction of senior
level has finished developing in the form of wave (2) and wave (3) has
started forming. The third wave 3 of (3) is developing on the H4 time
frame, with the first wave of junior level i of 3 forming inside. On the
H1 time frame, apparently a local correction finished developing as
wave (iv) of i and wave (v) of i is forming. If the presumption is
correct, the pair will continue to drop to the levels of 0.9550 –
0.9500. The level of 0.9761 is critical in this scenario. Its breakout
will allow the pair to continue rising to the levels of 1.0022 – 1.0145.
USD/JPY The pair USD/JPY remains likely to grow. Estimated pivot point is at a level of 108.62.
Main scenario: long positions should be considered from corrections above the level of 108.62 with a target of 111.00 – 112.35.
Alternative scenario:
breakout and consolidation below the level of 108.62 will allow the
pair to continue declining to the levels of 107.64 – 107.06.
Analysis: On
the daily time frame, supposedly, a large correction is completed in
the form of wave (B) of senior level and ascending wave (С) has started
to form, with the first wave 1 of (C) developing inside. On the H4
time-frame, apparently, the first wave of junior level i of 1 of (С)
has formed and local correction ii of 1 has finished developing.
Apparently, wave iii of 1 has started developing on the H1 time frame,
with wave (i) of iii formed inside. If the presumption is correct, after
the local correction (ii) of iii, the pair will continue to rise to the
levels of 111.00 – 112.35. The level 108.62 is critical in this
scenario as the breakout will enable the pair to continue declining to
the levels of 107.64 – 107.06 as part of wave ii of 1.
USD/CAD The pair USD/CAD remains likely to grow. Estimated pivot point is at a level of 1.2953.
Main scenario: long positions should be considered from corrections above the level of 1.2953 with a target of 1.3140 – 1.3184.
Alternative scenario:
breakout and consolidation below the level of 1.2953 will allow the
pair to continue declining to the levels of 1.2849 – 1.2657.
Analysis:
On the D1 time frame, supposedly, a descending correction continues
developing in the form of the second wave of senior level (2), with wave
C of (2) forming inside. On the H4 time frame, the third wave iii of C
has finished forming and an ascending correction has started developing
as wave iv of C. Apparently, wave (a) of iv is forming on the H1 time
frame. If the presumption is correct, the pair will continue to rise to
the levels of 1.3140 – 1.3184. The level 1.2953 is critical in this
scenario as the breakout will enable the pair to continue declining to
the levels of 1.2849 – 1.2657 as part of wave iii of C.
XAU/USD The pair XAU/USD remains likely to grow. Estimated pivot point is at a level of 1515.11.
Main scenario: long positions should be considered from corrections above the level of 1515.11 with a target of 1650.00 – 1700.00.
Alternative scenario:
breakout and consolidation below the level of 1515.11 will allow the
pair to continue declining to the levels of 1479.90 – 1445.80.
Analysis:
Supposedly, wave (B) of senior level continues developing on the weekly
time frame, with an ascending impulse developing inside as wave C of
(B). Supposedly, a local correction is completed as the fourth wave iv
of C and wave v of C has started to form on the daily time frame. On the
H4 time frame, the first wave of junior level (i) of v has developed ,
supposedly, and a local correction continues forming as wave (ii) of v.
If the presumption is correct, the price will continue to rise to the
levels of 1650.00 – 1700.00 after the correction. The level of 1515.11
is critical in this scenario as the breakout will enable the pair to
continue declining to the levels of 1479.90 – 1445.80.
The Analytical Materials are Provided by, SONY Net Business A Trader and Analyst.
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exchange trading carries a high level of risk that may not be suitable
for all investors. Leverage creates additional risk and loss exposure.
Before you decide to trade foreign exchange, carefully consider your
investment objectives, experience level, and risk tolerance. You could
lose some or all of your initial investment; do not invest money that
you cannot afford to lose. Educate yourself on the risks associated with
foreign exchange trading, and seek advice from an independent
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