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Wave analysis and forecast for 30.09.2016 – 07.10.2016 by LiteForex



EUR/USD Wave analysis and forecast for 30.09 – 07.10: The decline in the pair is likely to continue.

 

Estimated pivot point is at the level of 1.1250.

Our opinion: Sell the pair from correction below the level of 1.1250 with the target of 1.1014.

Alternative scenario: Breakout and consolidation of the price above the level of 1.1250 may trigger further rise in the pair up to 1.1427.

Analysis: Presumably, the formation of the wave c of 2 of the senior level continues. Locally it is likely that the third wave (iii) is being developed, within which the third wave of the junior level iii of (iii) is being formed. If this assumption is correct, the pair may continue to decline to 1.1014. Critical level for this scenario is 1.1250.

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GBP/USD Wave analysis and forecast for 30.09 – 07.10: Downtrend continues.

 

Estimated pivot point is at the level of 1.3057.

Our opinion: Sell the pair from correction below the level of 1.3057 with the target of 1.28.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3057 will enable the pair to continue the rise up to 1.32 – 1.34.

Analysis: Presumably, the formation of the third wave of the senior level continues. Locally, it is likely that the bearish impetus is developing, within which the correction as the fourth wave (iv) has completed and the fifth wave (v) is being developed. If this assumption is correct, the pair may continue to decline to the level of 1.28. Critical level for this scenario is 1.3057.

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USD/CHF Wave analysis and forecast for 30.09 – 07.10: Completed the pair is likely to grow.

 

Estimated pivot point is at the level of 0.9533.

Our opinion: Buy the pair on the breakdown and above the level of 0.9735 with the target of 0.9880 – 0.9960.

Alternative scenario: Breakout and consolidation of the price below the level of 0.9533 will trigger the decline in the pair to 0.94 – 0.93.

Analysis: Presumably, the formation of the upward correction continues as the second wave ii of the senior level within which the final wave (с) of ii is being formed. Locally it seems that the downward correction as the wave ii of (c) of the junior level has completed. If this assumption is correct, after its completion the pair is likely to rise up to 0.9880 – 0.9960 in the third wave iii. Critical level for this scenario is 0.9533.

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USD/JPY Wave analysis and forecast for 30.09 – 07.10: Downtrend continues.

 

Estimated pivot point is at the level of 101.81.

Our opinion: Sell the pair from correction below the level of 101.81 with the target of 98.90.

Alternative scenario: Breakout and consolidation of the price above the level of 101.81 will trigger the rise in the pair up to 103.26.

Analysis: Presumably, the formation of the third wave iii of 5 continues in the diagonal triangle. Locally, it is likely that the wave (c) of iii is being developed, within which the correction iv has completed and the fifth wave is being formed. If this assumption is correct, the pair will continue to decline to the level of 98.90. Critical level for this scenario is 101.81.

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USD/CAD Wave analysis and forecast for 30.09 – 07.10: The pair is likely to decline.

 

Estimated pivot point is at the level of 1.3274.

Our opinion: Sell the pair from correction below the level of 1.3274 with the target of 1.2980 – 1.2757.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3274 will trigger further rise in the pair up to 1.3320.

Analysis: Presumably, the formation of the long-term correction has completed as the wave B of the senior level, which took a pattern of the triple three wxyxz. Locally it is likely that the one-toe wave of the junior level is being formed. If this assumption is correct, the pair may decline to 1.2757 or further down. Critical level for this scenario is 1.3274.

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Source: http://www.liteforex.com/

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