Estimated pivot point is at a level of 1.2908.

Main scenario: short positions will be relevant below the level of 1.2908 with a target of 1.2577.

Alternative scenario: breakout and consolidation above the level of 1.2908 will allow the pair to continue rising to a level of 1.3000.

Analysis: supposedly, a descending correction continues to develop within the 4-hour time frame in the form of the wave 2 of (5). Apparently, an upward correction of junior level in the form of the fourth wave iv of C has finished forming locally. If the assumption is correct, the pair will continue falling to the levels of 1.2577. The level 1.2908 is critical in this scenario.

Estimated pivot point is at a level of 0.9862.

Main scenario: long positions will be relevant from corrections above the level of 0.9862 with a target of 1.0035.

Alternative scenario: breakout and consolidation below the level of 0.9862 will allow the pair to continue declining to a level of 0.9765.

Analysis: upposedly, an ascending correction in the form of the wave (2) of senior level continues developing within the 4-hour time frame. Apparently, the first wave С of (2) is forming locally, with the first wave of junior level i of C developing inside. If the presumption is correct, the pair may be expected to continue rising to the level of 1.0035. The level 0.9862 is critical in this scenario.

Estimated pivot point is at a level of 1.1813.

Main scenario: short positions will be relevant from corrections below the level of 1.1813 with a target of 1.1650.

Alternative scenario: breakout and consolidation above the level of 1.1813 will allow the pair to continue rising to a level of 1.1938.

Analysis: Supposedly, a descending correction in the form of the wave (2) continues developing in the 4-hour time frame, with an ascending correction in the form of the wave B completed and the wave C developing inside. Apparently, the first wave of junior level i of C is developing locally. If the assumption is correct, the pair may be expected to continue falling to the level of 1.1650. The level 1.1816 is critical in this scenario.

Estimated pivot point is at a level of 1.3552.

Main scenario: short positions will be relevant below the level of 1.3552 with a target of 1.3218 – 1.3030.

Alternative scenario: Breakout and consolidation above the level of 1.3552 will allow the pair to continue rising to a level of 1.3657.

Analysis: Supposedly, an ascending correction in the form of the wave B of senior level has stopped forming within the 4-hour time frame. Apparently, the wave C has started developing locally, with the first wave of junior level i of C formed and the correction ii of C nearing completion inside. If the assumption is correct, the pair will continue falling to the levels 1.3218 – 1.3030. The level 1.3552 is critical in this scenario.

Estimated pivot point is at a level of 111.98.

Main scenario: long positions will be relevant above the level of 111.98 with a target of 114.50 – 114.95.

Alternative scenario: Breakout and consolidation below the level of 111.98 will allow the pair to continue declining to a level of 110.16.

Analysis: Supposedly, the wave C of senior level continues to develop in the 4-hour time frame, with the wave 3 of C forming inside. Apparently, the first wave of junior level i of 3 is developing at the moment, with the wave (iii) forming inside.If the presumption is correct, the pair will continue to rise to the levels of 114.50 – 114.95. The level 111.98 is critical in this scenario.

[newsletters_posts numberposts=”5″ showdate=”Y” eftype=”excerpt” orderby=”post_date” order=”DESC” category=”2″]

07 July To 14 July 2017 Weekly Technical Analysis

[newsletters_posts numberposts=”5″ showdate=”Y” eftype=”excerpt” orderby=”post_date” order=”DESC” category=”2″]

http://www.forexguru.pk/free-urdu-forex-technical-analysis-signals-in-pakistan/07-july-to-14-july-2017-weekly-technical-analysis/

USDCAD Wave analysis and forecast for 30.06 – 07.07

Wave analysis and forecast for 30.06 – 07.07: Downtrend continues.

Estimated pivot point is at the level of 1.3203.

Analysis: Supposedly, a descending impetus continues to develop within the 4-hour time frame in a form of the first wave i of C. Apparently, the third wave of junior level (iii) continues to form locally. If this assumption is correct, then after completion of the upward correction (iv) the pair can continue to decline to 1.2800. Critical level for this scenario is 1.3203..

Alternative scenario: Breakout and consolidation of the price above the level of 1.3203 will trigger further rise in price to 1.3560.

USDCHF Wave analysis and forecast for 07.07 – 14.07

Wave analysis and forecast for 07.07 – 14.07: Downtrend dominates.

Estimated pivot point is at the level of 0.9688.

Analysis: Presumably, on the four-hour timeframe, the formation of the downtrend continues in the third wave 3 of the senior level. Locally it seems that the development of the wave v of 3 continues within which the correction of the junior level (ii) has completed. If this assumption is correct, the pair can continue to decline to 0.9500 – 0.9400. Critical level for this scenario is 0.9688.

Alternative scenario: Breakout and consolidation of the price above the level of 0.9688 will trigger further rise in the pair up to 0.9760.

USDJPY Wave analysis and forecast for 07.07 – 14.07

Wave analysis and forecast for 07.07 – 14.07: Downtrend continues.

Estimated pivot point is at the level of 1.3154.

Analysis: Presumably, on the four-hour chart development of the downward impetus continues as the first wave i of C. Locally it is likely that the third wave of the junior level (iii) has been formed and upward correction is being developed as the wave (iv). If this assumption is correct, after the completion of the correction the pair can continue to decline to the level of 1.2800. Critical level for this scenario is 1.3154.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3154 will trigger further rise in price to 1.3345.

GBPUSD Wave analysis and forecast for 07.07 – 14.07

Wave analysis and forecast for 07.07 – 14.07: The pair is likely to decline.

Estimated pivot point is at the level of 1.3026.

Analysis: Presumably, on the four-hour chart the formation of the fifth wave of the senior level continues. At the moment, it is likely that the upward impetus has been formed as the wave i of 5 and the downward correction ii of 5 is being developed, within which the pair may decline to 1.2806. Critical level for this scenario is 1.3026.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3026 will trigger further rise in the pair to 1.3150 – 1.3350.