ADVERTISEMENT

Wave analysis and forecast for 14.10.2016 – 21.10.2016 by LiteForex


EUR/USD Wave analysis and forecast for 14.10 – 21.10: Downtrend continues.

 

Estimated pivot point is at the level of 1.1105.

Our opinion: Sell the pair from correction below the level of 1.1105 with the target of 1.0914.

Alternative scenario: Breakout and consolidation of the price above the level of 1.1105 may trigger further rise in the pair up to 1.1324 – 1.14.

Analysis: Presumably, the formation of the wave c of 2 continues as the bearish correction of the senior level. Locally it is likely that the third wave (iii) is being developed. If this assumption is correct, the pair may continue to decline to 1.0914. Critical level for this scenario is 1.1105.

lite14102016 1

lite14102016 2

 

 

GBP/USD Wave analysis and forecast for 14.10 – 21.10: Downtrend continues.

 

Estimated pivot point is at the level of 1.2328.

Our opinion: In the medium-term: sell the pair from correction below the level of 1.2328 with the target of 1.19 – 1.16

Alternative scenario: Breakout and consolidation of the price above the level of 1.2328 will trigger the rise in the pair up to 1.2765.

Analysis: Presumably, the formation of the long-term bearish impetus (3) continues on the weekly and daily timeframes. Locally, it is likely that the downward impetus is being developed as the third wave (iii) is being developed in the third wave of the senior level 3. If this assumption is correct, in the medium-term the pair may continue to decline to the level of 1.19 – 1.16. Critical level for this scenario is 1.2328.

lite14102016 3

lite14102016 4

 

USD/CHF Wave analysis and forecast for 14.10 – 21.10: Uptrend continues.

 

Estimated pivot point is at the level of 0.9830.

Our opinion: Buy the pair from correction above the level of 0.9830 with the target of 0.9960 – 1.0.

Alternative scenario: Breakout and consolidation of the price below the level of 0.9830 will trigger the decline in the pair to 0.96 – 0.95.

Analysis: Presumably, the formation of the upward correction continues as the second wave of the senior level, within which the final wave с of 2 is being formed. Locally it seems that the third wave of (iii) of the junior level is being developed. If this assumption is correct, the pair will continue rise up to the level of 0.9962 – 1.0. Critical level for this scenario is 0.9830.

lite14102016 5

lite14102016 6

 

USD/JPY Wave analysis and forecast for 14.10 – 21.10: The pair is likely to grow.

 

Estimated pivot point is at the level of 103.29.

Our opinion: Buy the pair from correction above the level of 103.29 with the target of 105.12. In case of breakdown of the level of 103.29, sell with the target of 101.77.

Alternative scenario: Breakdown and consolidation of the price below the level of 103.29 will trigger further decline in the pair to 101.77 in the local correction.

Analysis: Presumably, the formation of the one-two impetus continues as the first wave of the upward correction (B) of the senior level. Locally, it is likely that the fifth wave (v) is being formed. . If this assumption is correct, the pair will continue to rise up to 105.12. Critical level for this scenario is 103.29.

lite14102016 7

lite14102016 8


USD/CAD Wave analysis and forecast for 14.10 – 21.10: The pair is likely to decline.

 

Estimated pivot point is at the level of 1.3306.

Our opinion: Sell the pair from correction below the level of 1.3306 with the target of 1.3039 – 1.2819.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3306 will trigger further rise in the pair up to 1.34 – 1.35.

Analysis: Presumably, the formation of the long-term correction has completed as the wave B of the senior level, which takes a shape of the triple three wxyxz. Locally it is likely that the one-two impetus i of the junior level has been formed. If this assumption is correct, after the completion of the correction the pair will continue to decline to 1.3039 or further down. Critical level for this scenario is 1.3306.

lite14102016 9

lite14102016 10

Source: http://www.liteforex.com/

Overall Rating (0)

0 out of 5 stars
  • No comments found

Other Related News Articles

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

Forex Brokers Listed

     

    ADVERTISEMENT

    ADVERTISEMENT

    ADVERTISEMENT

    ADVERTISEMENT

    ADVERTISEMENT