EUR / USD Wave analysis and forecast of the euro dollar for the week 17.10 - 21.10: The downtrend in force.
Estimated pivot point is at 1.1105.
Our opinion: Sell the pair from correction below 1.1105 with the aim of 1.0914.
Alternative scenario: A break and consolidation of the price above level of 1.1105 will allow the pair to continue to grow to around 1.1324 - 1.14.
Analysis of the euro: Presumably, formation of wave c of 2 within the bearish correction senior level. Locally, apparently, there is a third wave of development (iii), and if the assumption is true, it is logical to expect continuation of decrease in pair to the 1.0914 mark. Critical to this scenario is the level of 1.1105.
GBP / USD wave analysis and forecast at 17.10 - 21.10 :. Downtrend in force
Estimated pivot point is at 1.2328.
Our opinion : Sell the pair from correction below 1.2328 for the purpose of 1.19 - 1.16 in the medium term.
Alternative scenario : A break and consolidation prices above the level of 1.2328 will allow the pair to continue to grow to the level of 1.2765.
Analysis GBP / USD: Presumably, formation of a long-term bearish momentum (3) as part of weekly and daily timeframes. Locally, apparently develops downward momentum as the third wave (iii) as part of the senior level of the third wave 3. If the assumption is true, it is logical to expect continuation of decrease in pair in the medium term to marks 1.19 - 1.16. Critical to this scenario is the level of 1.2328.
USD / CHF wave analysis and forecast at 17.10 - 21.10 :. The uptrend in force
Estimated pivot point is at 0.9830.
Our view : Buy a pair of correction higher than 0.9830 with the aim of 0.9960 - 1.0.
Alternative scenario : A break and consolidation of prices below 0.9830 will allow the pair to continue to decline to marks 0.96 - 0.95.
Analysis: Presumably, formation of an upward correction in the second wave of the two senior levels, within which is formed with a final wave of 2. Locally, apparently, there is a third wave of development (iii) junior level, and if the assumption is true, it is logical to expect continuation of growth of pair to 0.9962 marks - 1.0. Critical to this scenario is the level of 0.9830.
USD / JPY wave analysis and forecast at 17.10 - 21.10 :. Expect growth of pair
Estimated pivot point is at 103.29.
Our view : Buy a pair of correction higher than 103.29 with a view to 105.12. In the case of the breakdown level of 103.29, selling for the purpose of 101.77.
Alternative scenario : A break and consolidation rates below the level of 103.29 will allow the pair to continue to decline to a level of 101.77 in the framework of the local correction.
Analysis : Presumably, formation of lead-pulse as the first wave in the framework began ascending correction (B) a senior level. Locally, apparently, formed the fifth wave (v), and if the assumption is true, then the pair will continue to rise to the level of 105.12. Critical to this scenario is the level of 103.29.
USD / CAD wave analysis and forex forecast at 17.10 - 21.10 :. Is expected to decrease in pair
Estimated pivot point is at 1.3306.
Our opinion : Sell the pair from correction below 1.3306 with the aim of 1.3039 - 1.2819.
Alternative scenario : A break and consolidation of prices above the level 1.3306 will allow the pair to continue to grow to marks 1.34 - 1.35.
Analysis: Presumably, formation of long-term correction as a wave in the senior level, which takes the form of a triple Three WXYXZ. Locally, apparently formed filar impulse i of the junior level, and if the assumption is true, after correction pair decrease will proceed to the level 1.3039 and below. Critical to this scenario is the level of 1.3306.
The author analyzes -
Alexander Geuta,
trader and analyst LiteForex
:
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