EUR/USD Wave analysis and forecast for 06.01 – 13.01: The pair is undergoing correction.

Estimated pivot point is at the level of 1.0344.

Our opinion: Buy the pair from correction above the level of 1.0344 with the target of 1.0734 – 1.0856.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.0344 may trigger further decline in the pair to 1.03 – 1.02.

Analysis: Presumably, the formation of the upward correction as the fourth wave of the senior level, continues. Locally it seems that the wave a of 4 is being developed, within which the wave(с), as an impetus, is being formed. If this assumption is correct, the pair will continue to rise up to 1.0734 – 1.0856. Critical level for this scenario is 1.0344.

GBP/USD Wave analysis and forecast for 06.01 – 13.01: The pair is experiencing correction.

Estimated pivot point is at the level of 1.2266.

Our opinion: Buy the pair from correction above the level of 1.2266 with the target of 1.2470 – 1.2526. In case of breakdown of the level of 1.2266, sell with the target of 1.21 – 1.20 or further down.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.2266 will trigger further decline in the pair to 1.1885.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the upward correction as the wave ii of 5 is being developed. If this assumption is correct, in the short-term, the pair will continue to rise up to 1.2470 – 1.2526. Critical level for this scenario is 1.2266. If this level is broken down downtrend will continue in the third wave iii of 5.

USD/CHF Wave analysis and forecast for 06.01 – 13.01: The pair is likely to rise.

Estimated pivot point is at the level of 1.0084.

Our opinion: Buy the pair from correction above the level of 1.0084 with the target of 1.0329.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.0084 will trigger further decline in the pair to 1.0000.

Analysis: Presumably, the formation of the downward correction as the wave 2, which took a shape of the irregular plane, is nearing completion. Locally, it is likely that the wave c of 2, within which an impetus has formed, completed. If this assumption is correct, the pair may go up to 1.0329 at least as part of the correction. Critical level for this scenario is 1.0084.

USD/JPY Wave analysis and forecast for 06.01 – 13.01: The pair is likely to rise.

Estimated pivot point is at the level of 115.03.

Our opinion: Buy the pair from correction above the level of 115.03 with the target of 119.60.

Alternative scenario: Breakdown and consolidation of the price below the level of 115.03 will trigger further decline to114.00 – 113.00.

Analysis: Presumably, the formation of the bullish impetus in the wave С of (B) continues as part of the upward correction. Locally, it is likely that the correction as the wave iv of C has completed, and the fifth wave is being developed. If this assumption is correct, the pair may rise up to 119.60. Critical level for this scenario is 115.03.

USD/CAD Wave analysis and forecast for 06.01 – 13.01: The pair is likely to decline.

Estimated pivot point is at the level of 1.3313.

Our opinion: Sell the pair from correction below the level of 1.3313 with the target of 1.3074.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3313 will trigger further rise in the pair to 1.3450 – 1.36.

Analysis: Presumably, the formation of the long-term upward correction as the wave B of the senior level correction has completed. Locally it is likely that the one-two impetus as the first wave (i0) is being formed. If this assumption is correct, the pair may continue to decline to 1.3074. Critical level for this scenario is 1.3313. After breaking out this level the pair will continue to rise up to 1.3450 – 1.36.

source - liteforex.com

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