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Wave analysis and forecast for 23.12.2016 – 30.12.2016 by LiteForex

 

 

EUR/USD Wave analysis and forecast for 23.12 – 30.12: The pair is likely to rise as part of correction.

Estimated pivot point is at the level of 1.0350.

Our opinion: Buy the pair from correction above the level of 1.0350 with the target of 1.0590 – 1.0734.

Alternative scenario: Breakout and consolidation of the price below the level of 1.0350 may trigger the decline in the pair to 1.03 – 1.02.

Analysis: Presumably, downward impetus has completed in the third wave of the senior level. Locally, it is likely that the upward correction as the fourth wave 4 is being developed. If this assumption is correct, the pair will continue to rise up to 1.0590 – 1.0734. Critical level for this scenario is 1.0350. In case of breakdown of this level wave structure of the third wave may extend.

 

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GBP/USD Wave analysis and forecast for 23.12 – 30.12: Downtrend dominates.

Estimated pivot point is at the level of 1.2385.

Our opinion: Sell the pair from correction below the level of 1.2385 with the target of 1.2077.

Alternative scenario: Breakout and consolidation of the price above the level of 1.2385 will trigger further rise in the pair up to 1.2526.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the downward impetus is being developed in the third wave of the junior level iii of 5. If this assumption is correct, the pair will continue to decline to 1.2077 – 1.19 in the medium-term. Critical level for this scenario is 1.2385.

 

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USD/CHF Wave analysis and forecast for 23.12 – 30.12: It is likely that the pair will continue to rise.

Estimated pivot point is at the level of 1.0216.

Our opinion: Buy the pair from correction above the level of 1.0216 with the target of 1.0440 – 1.0517.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.0216 will trigger further decline in the pair to 1.0089.

Analysis: Presumably, the formation of the uptrend as the third wave 3 of the senior level continues. Locally it seems that the two waves of different levels have been formed and correction as the wave (ii) has completed. If this assumption is correct, the pair will continue to rise up to 1.0440 – 1.0517. Critical level for this scenario is 1.0216.

 

usdchf23122016_1

usdchf23122016_2

 

USD/JPY Wave analysis and forecast for 23.12 – 30.12: The pair is likely to decline.

Estimated pivot point is at the level of 118.21.

Our opinion: Sell the pair from correction below the level of 118.21 with the target of 114.33 – 111.73.

Alternative scenario: Breakout and consolidation of the price above the level of 118.21 will trigger the rise up to 119.60 – 120.00.

Analysis: Presumably, the formation of the upward impetus in the wave A has completed as the truncation in the fifth wave of the junior level. Locally, it is likely that the decline begins in the wave B, within which the first wave a of B is being formed. If this assumption is correct, the decline in the pair may continue to 114.33 – 111.73. Critical level for this scenario is 118.21.

 

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USD/CAD Wave analysis and forecast for 23.12 – 30.12: The decline in the pair is likely to continue.

Estimated pivot point is at the level of 1.3580.

Our opinion: Sell the pair from correction below the level of 1.3580 with the target of 1.3074 – 1.28.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3580 will trigger further rise in the pair to 1.37 – 1.38.

Analysis: Presumably, the formation of the long-term correction as the wave B of the senior level correction has completed.
Locally it is likely that the wave С of (4) is being formed, within which one-two impetus as the first wave has been formed and the upward correction as a zigzag is nearing completion in the second wave, which is slightly extended. If this assumption is correct, the pair may continue to decline to 1.3074 – 1.28. Critical level for this scenario is 1.3580.

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 Source: http://www.liteforex.com/

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