USD/CHF Wave analysis and forecast of 07.11 – 14.11

USD/CHF Wave analysis and forecast of 07.11 – 14.11: The pair is likely to decline.

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Estimated pivot point is at the level of 0.96.
Our opinion: Wait for the breakdown of the level of 0.96 and sell the pair from correction below the local highs, which has been formed at the moment of breakdown, with the target of 0.9350 – 0.92.

Alternative scenario: Breakout and consolidation of the price above of the level of 0.9750 will enable the pair to continue the rise up to 0.98 – 0.9850.

Analysis: Presumably, the formation of the fifth wave of the “bearish” trend is nearing completion on the daily timeframe. If this assumption is correct, in the near future the pair will start to decline to the levels of 0.9350 – 0.92 within the wave (В).

USDCHF-D1

USDCHF-H4

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USD/CHF Wave analysis and forecast of 10.10 – 17.10

USD/CHF Wave analysis and forecast of 10.10 – 17.10: Uptrend continues. Locally, the pair is undergoing correction.

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Estimated pivot point is at the level of 0.9365.

Our opinion: Buy the pair from the correction above the level of 0.9365 with the target of 0.97 – 0.98.

Alternative scenario: Breakout and consolidation below of the level of 0.9365 will make the pair continue to decline to the levels of 0.9268.

Analysis: Presumably, the formation of the ascending momentum in the third wave of the senior level has completed. Locally it is likely that the “bearish” correction is being formed as the fourth wave. Within this wave either a triangle or a plane can develop. The targets of the correction are 24% – 0.9488 and 38% – 0.9367; the first one has been already reached by the price. If this assumption is correct, after the completion of the correction the pair will continue to grow up to the levels of 0.97 – 0.98 in the fifth wave of the supposed momentum.

USDCHF-D1

USDCHF-H4

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USD/CHF Wave analysis and forecast of 03.10 – 10.10

USD/CHF Wave analysis and forecast of 03.10 – 10.10: Ascending trend to remain. The pair is likely to grow.

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Estimated pivot point is at the level of 0.9515.

Our opinion: Buy the pair from corrections above 0.9515 with the target of 0.96 – 0.9650.

Alternative scenario: Breakout and consolidation below the level of 0.9515 will enable the pair to continue to decline to the level of 0.9460.

Analysis: Presumably, an ascending impetus in the third wave of senior level continues to be forming. Locally, the development of the “bullish” impetus in the wave iii of 3 is nearing completion, with the final fifth wave v of (v) of iii developing as its part. If this assumption is correct and the price does not break the critical level of 0.9515, the pair will continue to grow to the levels of 0.96 – 0.9650.

USDCHF-H1

USDCHF-H4

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USD/CHF Wave analysis and forecast of 19.09 – 26.09

USD/CHF Wave analysis and forecast of 19.09 – 26.09: Uptrend continues/ Locally, the pair is undergoing correction.

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Estimated pivot point is at the level of 0.93.

Our opinion: Buy the pair from the correction above the level of 0.93 with the target of 0.95.

Alternative scenario: Breakout and consolidation below of the level of 0.93 will make it possible for the pair to continue the decline to the levels of 0.9250 – 0.92.

Analysis: The formation of the ascending momentum in the third wave iii of the senior level continues. Locally, “bullish” impetus in the wave (iii) of iii has completed and local correction as the fourth wave (iv) is moving to the levels of 0.9350 – 0.93.

USDCHF-D1

USDCHF-H4

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USD/CHF Wave analysis and forecast of 29.08 – 05.09

USD/CHF Wave analysis and forecast of 29.08 – 05.09: The pair is likely to decline as part of correction.

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Estimated pivot point is at the level of 0.9145.

Our opinion: Sell the pair from correction below the level of 0.9145 with the target of 0.9018.

Alternative scenario: Breakout and consolidation above the level of 0.9145 will make it possible for the price to continue the growth to the level of 0.92.

Analysis: Presumably, the formation of the ascending momentum in the third wave (iii) is completed. Locally, a formation of the “bearish” correction in the fourth wave (iv) is not excluded. If this assumption is correct, the pair is likely to decline to the levels of 0.9050 – 0.9020.

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USD/CHF Wave analysis and forecast of 22.08 – 29.08

USD/CHF Wave analysis and forecast of 22.08 – 29.08: Uptrend dominates.

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Estimated pivot point is at the level of 0.9145.

Our opinion: Sell the pair from correction below the level of 0.9145 with the target of 0.9018.

Alternative scenario: Breakout and consolidation above the level of 0.9145 will make it possible for the price to continue the growth to the level of 0.92.

Analysis: Presumably, the formation of the ascending momentum in the third wave (iii) has completed. Locally, a formation of the “bearish” correction in the fourth wave (iv) is not excluded. If this assumption is correct, after the completion of the correction the pair will continue to rise in the fifth wave to the levels of 0.9250 – 0.93.

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USDCHF-D1 USDCHF-H4

Weekly Trading Forecasts on Major Pairs (August 4 – 8, 2014)‏

Here’s the market outlook for this week:

EURUSD
Dominant bias: Bearish
This pair has continued its southward journey with price breaking below the resistance line at 1.3400. This level is a war zone between bulls and bears, so price will be making some attempts to get back above it. Should the initial resistance line get broken and price moves up, another resistance line at 1.3450 will act as a secondary hurdle for the bulls, so any break above 1.3450 will pose a serious threat to the bearish trend. Meanwhile, the bearish trend seems likely to continue, pushing price towards the support lines at 1.3350 and 1.3300.

USDCHF
Dominant bias: Bullish
As forecast last week, USD/CHF was able to test the resistance level at 0.9100. This is an area where some bulls will want to take profits, as price ought to drop at least some way from there. For the bullish journey to continue, price needs to break that resistance level, going towards another resistance level at 0.9150. If this fails to occur, a near-term or medium-term bearish run is likely to begin.

GBPUSD
Dominant bias: Bearish
Cable dropped by about 120 pips this week, and the bearish outlook is currently strong – forming a clean Bearish Confirmation Pattern in the chart. This means a high probability of price continuing even further downwards, testing the accumulation territories at 1.6850 and 1.6800 respectively – especially with the distribution territories at 1.6950 and 1.7000 acting as impediment to any rallies along the way.

USDJPY
Dominant bias: Bullish
The Greenback is strong, so it is no wonder that USD/JPY rallied – especially in the face of Yen weakness. This market has tested the supply level at 103.00, which must be broken before any serious northward movement can continue. However, some deep pullbacks towards the demand levels at 102.50 and 102.00 are possible.

EURJPY
Dominant bias: Bullish
EUR itself is not that strong but, as a result of exponential weakness in JPY, EUR/JPY has been able to reject its recent bearish bias, paving way for a new bullish signal. As long as price stays above the demand zone at 137.00, a bullish signal will make sense, and price could then even go up towards the supply zone at 138.00.

I’d like to conclude this forecast with the following quote:

USD/CHF Wave analysis and forecast for 10.07 – 18.07

USD/CHF Wave analysis and forecast for 10.07 – 18.07: The pair is likely to go up.

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Estimated pivot point is at the level of 0.8854.

Our opinion: Buy the pair from the correction above the level of 0.8854 with the target of 0.9150 – 0.9200.

Alternative scenario: Breakout of the level of 0.8854 will enable the pair to continue the decline to the levels of 0.88 – 0.8750.

Analysis: Presumably, the formation of the local correction as the second wave has completed. Locally, small in-lead momentum has been formed, as well as minor bearish correction. If this assumption is correct and the price does not break down critical level of 0.8854, the pair will continue to rise in the third wave. Breakdown of the critical level will lead to the further decline in price and enhancement of the correction of the senior level up to the levels of 0.88 – 0.8750.

USDCHF-D1

USDCHF-H4

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USD/CHF Wave analysis and forecast for 04.07 – 11.07

USD/CHF Wave analysis and forecast for 04.07 – 11.07: The pair is likely to grow.

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Estimated pivot point is at the level of 0.8854.

Our opinion: Buy the pair from the correction above the level of 0.8854 with the target of 0.9150 – 0.9200.

Alternative scenario: Breakout of the level of 0.8854 will enable the pair to continue the decline to the levels of 0.88 – 0.8750.

Analysis: Presumably, the formation of the local correction as the second wave has completed. Locally, it is possible that the small in-lead momentum is being formed. If this assumption is correct, the pair will continue to grow in the third wave. Critical level for this scenario is 0.8854. Breakout of this level will trigger further decline in price and deepening of the correction up to the levels of 0.88 – 0.8750.

USDCHF-D1

USDCHF-H4

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USD/CHF Wave analysis and forecast for 27.06 – 04.07

USD/CHF Wave analysis and forecast for 27.06 – 04.07: The pair is undergoing correction. A chance of growth in the pair remains.

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Estimated pivot point is at the level of 0.8906.

Our opinion: Buy the pair above the level of 0.8906 with the target of 0.9150 – 0.9200.

Alternative scenario: Breakout of the level of 0.8906 will enable the pair to continue the decline to the levels of 0.8850 – 0.88.

Analysis: Presumably, the formation of the local correction as the second wave is nearing completion. Locally, it is not excluded that the formation of the wave (c) of ii has completed. If this assumption is correct, the pair will continue to grow in the third wave. As an alternative scenario: if the pair breaks down the critical level of 0.8906, the correction in the second wave may continue up to the levels of 0.8850 – 0.88.

USDCHF-D1

USDCHF-H4

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USD/CHF Wave analysis and forecast for 20.06 – 27.06

USD/CHF Wave analysis and forecast for 20.06 – 27.06: The pair is undergoing correction. The pair is likely to grow.

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Estimated pivot point is at the level of 0.8906.

Our opinion: Buy the pair above the level of 0.8906 with the target of 0.9150 – 0.9200.

Alternative scenario: Breakout of the level of 0.8906 will enable the pair to continue the decline to the levels of 0.8850 – 0.88.

Analysis: Presumably, the formation of the uptrend continues, within which the third wave will be developed. Locally, the formation of the downward correction as the second wave (ii) of iii is nearing completion. If this assumption is correct, following the completion of the correction, it makes sense to expect that the pair will continue to rise up to the levels of 0.91 – 092. Critical level for this scenario is the level of 0.8906. In is also possible that in case of breakdown of the critical level, the correction may go up to the levels 0.8850 – 0.88 in the second wave of the senior level.

USDCHF-D1 USDCHF-H4

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