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Wave analysis and forecast for 30.12.2016 – 06.01.2017 by LiteForex



EUR/USD Wave analysis and forecast for 30.12 – 06.01: The pair is likely to rise as part of correction.

Estimated pivot point is at the level of 1.0373.

Our opinion: Buy the pair from correction above the level of 1.0373 with the target of 1.0734 – 1.0856.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.0373 may trigger further decline in the pair to 1.03 – 1.02.

Analysis: Presumably, the formation of the 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 within which the wave a of 4 is being developed. If this assumption is correct, the pair will continue to rise up to 1.0734 – 1.0856. Critical level for this scenario is 1.0373.

 

GBP/USD Wave analysis and forecast for 30.12 – 06.01: The pair is likely to rise as part of correction.

Estimated pivot point is at the level of 1.2214.

Our opinion: Buy the pair from correction above the level of 1.2214 with the target of 1.2470 – 1.2526.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.2214 will trigger further decline in the pair to 1.1885.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the downward impetus as the first wave of the junior level i of 5 has been formed and the upward correction ii of 5 is being developed. If this assumption is correct, the pair will continue to rise up to 1.2470 – 1.2526. Critical level for this scenario is 1.2214.


USD/CHF Wave analysis and forecast for 30.12 – 06.01: The pair is experiencing correction.

Estimated pivot point is at the level of 1.0310.

Our opinion: Sell the pair from correction below the level of 1.0310 with the target of 1.0000. In case of breakout of the level of 1.0310, buy with the target of 1.0517.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0310 will trigger further rise in the pair to 1.0517.

Analysis: Presumably, the formation of the downward correction as the wave 2 continues. It is likely that the wave has taken a shape of the irregular plane. Locally it seems that the wave c of 2 is being formed, within which the pair may decline to 1.000. Critical level for this scenario is 1.0310.

 

USD/JPY Wave analysis and forecast for 30.12 – 06.01: The pair is likely to rise.

Estimated pivot point is at the level of 115.98.

Our opinion: Buy the pair from correction above the level of 115.98 with the target of 119.60.

Alternative scenario: Breakdown and consolidation of the price below the level of 115.98 will trigger the rise up to 114.00 – 113.00.

Analysis: Presumably, the formation of the bullish impetus in the wave С of (B) continues as part of the upward correction. Locally, it is likely that the correction as the wave iv of C has completed while the fifth wave started to develop. If this assumption is correct, the pair may rise up to 119.60. Critical level for this scenario is 115.98.

 

USD/CAD Wave analysis and forecast for 30.12 – 06.01: The pair is likely to decline.

Estimated pivot point is at the level of 1.3600.

Our opinion: Sell the pair from correction below the level of 1.3600 with the target of 1.3311 – 1.3074.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3600 will trigger further rise in the pair to 1.37 – 1.38.

Analysis: Presumably, the formation of the long-term upward correction as the wave B of the senior level correction has completed. Locally it is likely that the development of the final zigzag has completed in the diagonal triangle in the wave c of B. If this assumption is correct, the pair may continue to decline to 1.3311 – 1.3074 within the first one-two wave. Critical level for this scenario is 1.3600.

 

 

Source: http://www.liteforex.com/

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