EUR/USD: Wave analysis and forecast for 15.07 – 22.07: The pair is undergoing correction.

Estimated pivot point is at the level of 1.1096.

Our opinion: In the short-term: buy the pair above the level of 1.1096 with the target of 1.1190 – 1.1250. If the price breaks out and consolidates below the level of 1.1096, sell the pair with the target of 1.09 – 1.08.

Alternative scenario: Breakout and consolidation of the price below the level of 1.1096 will trigger the decline in the pair to 1.09 – 1.08.

Analysis: Presumably, the formation of the downward correction of the senior level continues, as the wave 2. Within this wave a final wave c of 2 is being developed. It seems that the formation of the flat correction as the wave (ii) is nearing completion. If this assumption is correct, after the completion of the correction the pair will continue to decline to 1.09 – 1.08.

EURUSD H1


EURUSD H4

GBP/USD: Wave analysis and forecast for 15.07 – 22.07: Correction in the pair continues.

Estimated pivot point is at the level of 1.3096.

Our opinion: Buy the pair from correction above the level of 1.3096 with the target of 1.3888 – 1.4156.

Alternative scenario: Breakout and consolidation of the price below the level of 1.3096 may trigger further decline to 1.2256.

Analysis: Presumably, the formation of the upward correction continues as the wave 2 in the shape of a zigzag (a)(b)(c). It is assumed that locally, the wave (c) of 2 is being developed. If this assumption is correct, the pair will continue to rise up to 1.3888 – 1.4156. Critical level for this scenario is 1.3096. Breakout of this level will trigger further decline in the pair.

GPBUSD H1


GPBUSD H4

USD/CHF: Wave analysis and forecast for 15.07 – 22.07: The pair is likely to decline.

Estimated pivot point is at the level of 0.9893.

Our opinion: Sell the pair from correction below the level of 0.9893 with the target of 0.9510 – 0.93.

Alternative scenario: Breakout and consolidation of the price above the level of 0.9893 may trigger further rise up to 1.0 – 1.0100.

Analysis: Presumably, the formation of the third wave iii of the senior level continues. Currently, it seems that upward correction as the wave (ii), which has a shape of a zigzag abc, has completed. If this assumption is correct the pair can fall to 0.9510 – 0.93 in the third wave (iii). Critical level for this scenario is 0.9893. Breakout of this level will trigger further rise in price.

USDCHF H1


USDCHF H4

USD/JPY: Wave analysis and forecast for 15.07 – 22.07: Uptrend dominates.

Estimated pivot point is at the level of 100.00.

Our opinion: Buy the pair from correction above the level of 100.00 with the target of 109.00.

Alternative scenario: Breakout and consolidation of the price below the level of 100.00 will trigger further decline in the pair to 97.70.

Analysis: Presumably, the formation of the fifth wave (v) of v of A has elided in the long-term downtrend. At the moment, large upward correction is being developed as the wave B, within which one-two impetus of the junior level has formed (i). If this assumption is correct, after the correction the pair will continue to rise up to 109.00.

USDJPY H1


USDJPY H4

USD/CAD: Wave analysis and forecast for 15.07 – 22.07: The pair is likely to decline.

Estimated pivot point is at the level of 1.2876.

Our opinion: Sell the pair from correction below the level of 1.3135 with the target of 1.2630.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3135 will trigger further rise in the pair up to 1.32, or higher.

Analysis: Presumably, the formation of the upward correction has completed in the wave B of the senior level. At the moment, it is assumed that the wave C of the senior level is being developed within which one-two first wave (i) is being formed. If this assumption is correct, the pair may continue to decline to 1.2630. Critical level for this scenario is 1.3135.

USDCAD H1


USDCAD H4

USDCAD H4

 

Source - liteforex.com

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