From Date: 04.09.2020 To Date: 11.09.2020 (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 EUR/USD remains likely to grow. Estimated pivot point is at a level of 1.1760.
Main scenario: consider long positions from corrections above the level of 1.1760 with a target of 1.2100 – 1.2200.
Alternative scenario:
breakout and consolidation below the level of 1.1760 will allow the
pair to continue declining to the levels of 1.1642 – 1.1472.
Analysis:
A descending correction of larger degree presumably finished developing
on the daily time frame in the form of wave (2), and the third wave (3)
started developing. On the H4 time frame, the first counter-trend wave 1
of (3) is forming as an impulse, with a local correction presumably
formed inside as the fourth wave iv of 1. Apparently, the fifth wave v
of 1 started developing on the H1 time frame, with a corrective wave
(ii) of v formed inside. If the presumption is correct, the pair will
continue to rise to the levels 1.2100 – 1.2200. The level of 1.1760 is
critical in this scenario. Its breakout will allow the pair to continue
falling to the levels of 1.1642 – 1.1472 in wave iv of 1.
GBP/USD GBP/USD remains likely to grow. Estimated pivot point is at a level of 1.3050.
Main scenario: consider long positions from corrections above the level of 1.3050 with a target of 1.3500 – 1.3600.
Alternative scenario:
breakout and consolidation below the level of 1.3050 will allow the
pair to continue declining to the levels of 1.2879 – 1.2755.
Analysis:
Presumably, the third wave of larger degree (3) continues developing on
the daily time frame, with wave 3 of (3) forming inside. On the H4 time
frame, a local correction has formed as the fourth wave iv of 3, and
wave v of 3 is forming. Apparently, the third wave of smaller degree
(iii) of v of 3 has formed and a correction finished developing in the
form of wave (iv) of v of 3 on the H1 time frame. If the presumption is
correct, the pair will continue to rise to the levels 1.3500 – 1.3600.
The level of 1.3050 is critical in this scenario as the breakout will
enable the pair to continue declining to the levels of 1.2879 – 1.2755.
USD/CHF USD/CHF remains likely to grow. Estimated pivot point is at a level of 0.8994.
Main scenario: consider long positions from corrections above the level of 0.8994 with a target of 0.9242 – 0.9302.
Alternative scenario:
breakout and consolidation below the level of 0.8994 will allow the
pair to continue declining to the levels of 0.8900 – 0.8800.
Analysis:
Presumably, the descending third wave of larger degree (3) continues
developing on the daily time frame, with wave 1 of (3) forming inside.
On the H4 time frame, wave v of 1 is forming, with wave (iii) of v
formed inside. Apparently, on the H1 time frame there is a local
correction forming as wave of smaller degree (iv) of v . If this
assumption is correct, the pair will continue to rise to the levels of
0.9242 – 0.9302. The level of 0.8994 is critical in this scenario. Its
breakout will allow the pair to continue falling to the levels of 0.8900
– 0.8800.
USD/JPY USD/JPY remains likely to fall. Estimated pivot point is at a level of 107.06.
Main scenario: consider short positions from corrections below the level of 107.06 with a target of 104.19 – 103.30.
Alternative scenario: breakout and consolidation above the level of 107.06 will allow the pair to continue rising to the levels of 108.14 – 109.85.
Analysis:
On the daily time frame, apparently a descending correction of larger
degree finished forming as wave B, and wave С started developing, with
the first wave 1 of (1) of C formed inside. On the H4 time frame, a
descending correction continues forming as wave 2 of (1), with wave c of
2 developing inside. Apparently, the fifth wave of smaller degree (v)
of c is developing on the H1 time frame. If this assumption is correct,
the pair will continue to fall to 104.19 – 103.30. The level of 107.06
is critical in this scenario as the breakout will enable the pair to
continue growing to the levels of 108.14 – 109.85.
USD/CAD USD/CAD remains likely to fall. Estimated pivot point is at a level of 1.3242.
Main scenario: consider short positions from corrections below the level of 1.3242 with a target of 1.2900 – 1.2800.
Alternative scenario: breakout and consolidation above the level of 1.3242 will allow the pair to continue rising to the levels of 1.3565 – 1.3780.
Analysis: An
ascending corrective wave of larger degree (B) of 4 has finished
developing on the daily time frame, and wave (C) of 4 started forming.
Presumably, the first wave 1 of (C) continues developing on the H4 time
frame, with wave v of 1 forming inside. Apparently, the fifth wave of
smaller degree (v) of v of 1 is developing on the H1 time frame. If the
presumption is correct, the pair may be expected to continue falling to
the levels of 1.2900 – 1.2800. The level of 1.3242 is critical in this
scenario as the breakout will enable the pair to continue rising to the
levels of 1.3565 – 1.3780.
XAU/USD XAU/USD remains likely to grow. Estimated pivot point is at a level of 1902.82.
Main scenario: consider long positions from corrections above the level of 1902.82 with a target of 2130.03 – 2200.00.
Alternative scenario:
breakout and consolidation below the level of 1902.82 will allow the
pair to continue declining to the levels of 1862.02 – 1822.71.
Analysis:
The ascending third wave of larger degree (3) presumably continues
developing on the daily time frame, with wave 5 of (3) forming inside.
Apparently, the third wave of smaller degree iii of 5 has formed on the
H4 time frame, and presumably, a local correction finished developing in
the form of wave iv of 5. The fifth wave v of 5 is starting to develop
on the H1 time frame, with wave (ii) of v nearing completion inside. If
the presumption is correct, the price will continue to rise to the
levels of 2130.03 – 2200.00. The level of 1902.82 is critical in this
scenario as the breakout will enable the pair to continue declining to
the levels of 1862.02 – 1822.71.
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Before you decide to trade foreign exchange, carefully consider your
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