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Wave analysis and forecast for 13.01.2017 – 20.01.2017 by LiteForex



EUR/USD Wave analysis and forecast for 13.01 – 20.01: The rise in the pair is likely to continue.

Estimated pivot point is at the level of 1.0449.

Our opinion: Buy the pair from correction above the level of 1.0449 with the target of 1.0734 – 1.0856.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.0449 may trigger further decline in the pair to 1.0350 – 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 a wedge, 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 1.0449.

 

GBP/USD Wave analysis and forecast for 13.01 – 20.01: Downtrend continues.

Estimated pivot point is at the level of 1.2313.

Our opinion: Sell the pair from correction below the level of 1.2313 with the target of 1.1185.

Alternative scenario: Breakout and consolidation of the price above the level of 1.2313 will trigger further rise in the pair to 1.2433.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the third wave of the junior level iii of 5 is being developed, within which the wave (ii) has completed. If this assumption is correct, the pair may continue to decline to 1.1885. Critical level for this scenario is 1.2313.

 

USD/CHF Wave analysis and forecast for 13.01 – 20.01: Decline in the pair is likely to continue.

Estimated pivot point is at the level of 1.0246.

Our opinion: Sell the pair from correction below the level of 1.0246 with the target of 0.9945.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0246 will trigger further rise in the pair up to 1.0329.

Analysis: Presumably, the formation of the downward correction continues, as the wave 2, which takes a shape of the irregular plane. Locally, it is likely that the wave c of 2 is being formed, within which the third wave (iii) is being developed. If this assumption is correct, the pair may go down to 0.9945. Critical level for this scenario is 1.0246.

 

USD/JPY Wave analysis and forecast for 13.01 – 20.01: Downtrend continues.

Estimated pivot point is at the level of 116.78.

Our opinion: Sell the pair from correction below the level of 116.78 with the target of 111.58.

Alternative scenario: Breakout and consolidation of the price above the level of 116.78 will trigger further rise to 119.60.

Analysis: Presumably, the formation of the bullish impetus has completed as the wave С of (B), which is part of the upward correction. Locally, it is likely that the downward impetus as the first wave of the junior level is being formed. . If this assumption is correct, the pair may go down to 111.58. Critical level for this scenario is 116.78.


 

USD/CAD Wave analysis and forecast for 13.01 – 20.01: Downtrend continues.

Estimated pivot point is at the level of 1.3294.

Our opinion: Sell the pair from correction below the level of 1.3294 with the target of 1.2809.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3294 will trigger further rise in the pair up to 1.3586.

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 is being formed, within which the third wave of the junior level (iii) of I is being developed. If this assumption is correct, the pair may continue to decline to 1.2809. Critical level for this scenario is 1.3294. After breaking out this level the pair will continue to rise up to 1.3586.

 

Source: http://www.liteforex.com/

 

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