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Forex Weekly Analyzing


Wave Analysis and Forecast.(weekly)
 From Date: 16.08.2019 To Date: 23.08.2019 (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.


EURUSD
The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1026.
Main scenario: long positions will be relevant from corrections above the level of 1.1026 with a target of 1.1413 – 1.1562.
Alternative scenario: Breakout and consolidation below the level of 1.1026 will allow the pair to continue declining to the levels of 1.0950 – 1.0900.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave 2 finished developing on the daily frame in the form of a zigzag with a diagonal triangle located in the wave (С) of 2. Supposedly, the fifth wave 5 of (C) has finished developing and the first counter-trend wave i of 1 of (1) of 3 has formed on the H4 time-frame. Apparently, the downward correction is nearing completion in the form of wave  ii of 1 on the H1 time frame.  If this assumption is correct, the pair will continue to rise to the levels 1.1413 – 1.1562 once the correction is over. The level 1.1026 is critical in this scenario.





GBPUSD
The pair GBP/USD is still likely to fall Estimated pivot point is at a level of 1.2211.
Main scenario: short positions will be relevant from corrections below the level of 1.2211 with a target of 1.1900 – 1.1800.
Alternative scenario: breakout and consolidation above the level of 1.2211 will allow the pair to continue the rise up to the levels of 1.2360 – 1.2554.
Analysis: Supposedly, a descending correction of senior level carries on developing  in the form of the zigzag-shaped second wave (2) on the D1 frame. A bearish impulse is developing as wave С of (2) on the H4 time frame, with wave v of C forming inside. Apparently, the third wave of junior level (iii) of v finished developing as an impulse on the H1 time frame and local correction  (iv) of v is forming at the moment. If the presumption is correct, the pair will continue to drop to the levels of 1.1900 – 1.1800. The level 1.2211 is critical in this scenario.




USDCHF
The  USD/CHF pair is under correction, still likely to fall. Estimated pivot point is at a level of 0.9974.
Main scenario: short positions will be relevant from corrections below the level of 0.9974 with a target of 0.9556 – 0.9188 once the correction is completed. 
Alternative scenario: breakdown and consolidation above the level of 0.9974 will allow the pair to continue the rise up to the levels of 1.0122 – 1.0230.
Analysis: Supposedly, an ascending correction of senior level in the form of the wave (2) finished developing on the D1 time frame and the wave (3) started forming. The third wave of junior level is forming inside the wave 1 of (3) on the H4 time frame. Apparently, the local correction  (ii) of iii is forming on the H1 time frame. If the presumption is correct, the pair will resume falling to the level of 0.9556 inside the wave (iii) of iii once the correction is over. The level of 0.9974 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels 1.0122 – 1.0230.




USDJPY
The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of  104.99.
Main scenario: long positions will be relevant from corrections above the level of 104.99 with a target of 108.70 – 109.58. 
Alternative scenario: Breakout and consolidation below the level of  104.99 will allow the pair to continue declining to the levels of 104.00 – 103.00. 
Analysis: Presumably, a huge correction finished developing in the form of wave B of senior level on the D1 time frame and the wave C started forming. Supposedly, the first wave of junior level 1 finished forming as an expanding wedge on the H4 time frame and an ascending correction starts developing in the form of wave 2. Apparently, the wave a of 2 is developing on the H1 time frame, with the waves (i) and (ii) formed inside. If the presumption is correct, the pair will continue to rise to the levels 108.70 – 109.58. The level  104.99 is critical in this scenario.





USDCAD
The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.3183.
Main scenario: long positions will be relevant from corrections above the level of 1.3183 with a target of 1.3432 – 1.3564. 
Alternative scenario: Breakout and consolidation below the level of 1.3183 will allow the pair to continue declining to the levels of 1.3012 – 1.2910.
Analysis: Supposedly, a descending correction finished developing on the D1time frame in the form of the second wave of senior level (2) and the wave (3) starts forming. Supposedly, the first wave of junior level i of 1 of (3) is forming on the H4 time frame. Apparently, the fifth wave (v) is developing inside the first wave i of 1 of (3) on the H1 time frame. If the presumption is correct, the pair will continue to rise to the levels 1.3432 – 1.3564. The level 1.3183 is critical in this scenario.




XAU/USD
The pair XAU/USD is likely to fall under correction. Estimated pivot point is at a level of 1536.09.
Main scenario: short positions will be relevant from corrections below the level of 1536.09 with a target of 1471.02 – 1432.75.
Alternative scenario: breakdown and consolidation above the level of 1536.09 will allow the pair to continue the rise up to the levels of  1585.56 – 1650.00.
Analysis: Supposedly, the third wave of senior level  iii of C of (B) continues forming on the daily time frame. Apparently, the third wave of junior level (iii) of iii finished developing on the H4 time frame. Supposedly, a descending correction started forming  in the form of the fourth wave (iv) of iii on the H1 time frame. If the presumption is correct, the price will continue falling to the levels of 1471.02 – 1432.75. The level 1536.09 is critical in this scenario.





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