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Wave analysis and forecast for 20.01.2017 – 27.01.2017 by Liteforex

EUR/USD Wave analysis and forecast for 20.01 – 27.01: The pair is likely to decline.

Estimated pivot point is at the level of 1.0718.

Our opinion: Sell the pair from correction below the level of 1.0718 with the target of 1.0500.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0718 may trigger further rise in the pair up to 1.0856.

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 has completed, while the wave b of 4 is being formed. If this assumption is correct, the pair will continue to decline to 1.0500. Critical level for this scenario is 1.0718.

 

GBP/USD Wave analysis and forecast for 20.01 – 27.01: The pair is in correction.

Estimated pivot point is at the level of 1.2417.

Our opinion: Sell the pair from correction below the level of 1.2417 with the target of 1.2204 – 1.1885.

Alternative scenario: Breakout and consolidation of the price above the level of 1.2417 will trigger further rise in the pair to 1.2540.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the first wave as the wedge i of 5, has formed and the upward correction as the wave ii of 5 is being developed, within which upward impetus has been formed (a) and the wave (b) is being developed. If this assumption is correct, the pair may continue to decline to 1.2204 within the wave (b). Critical level for this scenario is 1.2417.

 

USD/CHF Wave analysis and forecast for 20.01 – 27.01: The pair is likely to rise.

Estimated pivot point is at the level of 0.9993.

Our opinion: Buy the pair from correction above the level of 0.9993 with the target of 1.0198.

Alternative scenario: Breakdown and consolidation of the price below the level of 0.9993 will trigger further decline in the pair to 0.9940.

Analysis: Presumably, the formation of the downward correction, as the wave 2, which took a shape of the irregular plane, has completed. Locally, it is likely that the first wave of the junior level (i) has been formed and the correction (ii) is being developed. If this assumption is correct, the pair may go up to 1.0198. Critical level for this scenario is 0.9993.

 

 

USD/JPY Wave analysis and forecast for 20.01 – 27.01: Downtrend continues.

Estimated pivot point is at the level of 116.19.

Our opinion: Sell the pair from correction below the level of 116.19 with the target of 113.80 – 111.58.

Alternative scenario: Breakout and consolidation of the price above the level of 116.19 will trigger further rise to 117.55.

Analysis: Presumably, the formation of the wave (С) continues, within which the first wave has been formed. Locally, it is likely that the upward correction as the wave ii is being formed, within which an impetus (a) has been formed and the wave (b) is being developed. If this assumption is correct, the pair may go down to 113.80 – 111.58. Critical level for this scenario is 116.19.

 

USD/CAD Wave analysis and forecast for 20.01 – 27.01: Downtrend continues.

Estimated pivot point is at the level of 1.3375.

Our opinion: Sell the pair from correction below the level of 1.3375 with the target of 1.3180 – 1.3018.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3375 will trigger further rise in the pair up to 1.3450 – 1.35.

Analysis: Presumably, the formation of the wave C of the senior level continues. Locally it is likely that the downward impetus as the first wave i of C has finished, within which impetus (a) has also completed. If this assumption is correct, the pair may continue to decline to 1.3180 – 1.3018. Critical level for this scenario is 1.3375. After breaking out this level, the pair will continue to rise up to 1.3450 – 1.35.


 

Source: http://www.liteforex.com/

 

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