EUR/USD Wave analysis and forecast of 05.09 – 12.09: European currency is under pressure. The pair continues to decline.Estimated pivot point is at the level of 1.3110.
Our opinion: Sell the pair from correction below the level of 1.310 with the target of 1.2740.
Alternative scenario: Breakout and consolidation above of the level of 1.3110, will allow the rise in price up to the level of 1.32 – 1.3250 within the correction of the senior level.
Analysis: Presumably, the formation the third wave (iii) continues. Within this wave the extension of the impetus is being formed with the estimated target of completion at the level of 1.2740. Locally it is likely that the third wave of the junior level (iii) of iii is nearing completion. If this assumption is correct and the price does not break out the critical level of 1.3110, it makes sense to expect that the pair will continue to decline to the level of 1.2740.
GBP/USD Wave analysis and forecast of 05.09 – 12.09: The “bearish” correction is likely to develop.Estimated pivot point is at the level of 1.6286.
Our opinion: Buy the pair above the level of 1.6286 with the target of 1.67. If the price consolidates below the level of 1.6286 – sell with the target of 1.58.
Alternative scenario: Breakout and consolidation below the level of 1.6286 will enable the price to continue the decline to the level of 1.58.
Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction is nearing completion. At the moment it is likely that the pair may reverse and the price will undergo correction in the wave B. In case of breakdown and consolidation of the price below the level of 1.6286, and if the third wave will become the shortest and marking will be wrong, it will make sense to expect that the pair will continue to decline and the extension of the wave structure of the local impetus will be formed.
USD/CHF Wave analysis and forecast of 05.09 – 12.09: The pair will continue to grow.Estimated pivot point is at the level of 0.9174.
Our opinion: Buy the pair from the correction above the level of 0.9174 with the target of 0.9440.
Alternative scenario: Breakout and consolidation below of the level of 0.9174 will make the pair continue the decline to 0.91 – 0.9050.
Analysis: The pair continues to grow and in view of the current wave pattern we can assume that the extension with the targeted estimated level of 262% - 0.9440 is being formed in the third wave iii of the senior level. Locally it is likely that the third wave of the junior level is being formed (iii) of iii which may reach the level of 0.94. If this assumption is true, and the price does not break down the critical level of 0.9174, the pair may continue to grow.
USD/JPY Wave analysis and forecast of 05.09 – 12.09: Uptrend has resumed. The pair is likely to grow.Estimated pivot point is at the level of 103.56.
Our opinion: Buy the pair from correction above the level of 103.56 with the target of 106.30 – 107.60.
Alternative scenario: Breakout and consolidation below the level of 103.56 will enable the pair to continue the decline to the levels of 102.0 – 101.0.
Analysis: Because of the active rise in the pair and breakout of the critical levels, the wave pattern has to be revised. At the moment due to the pattern of the long-term rise in the pair, makes it possible that the fifth wave of the “bullish” impetus is being formed with the target level of 107.60. Locally it is possible that the third wave of the junior level 3 of (5) is being formed. If this assumption is correct and if the price does not break down the critical level of 103.56, it makes sense to expect the rise in the pair up to the levels of 106.30 – 107.60.
USD/СAD Wave analysis and forecast of 05.09 – 12.09: The formation of the “bearish” correction.Estimated pivot point is at the level of 1.0942.
Our opinion: Sell the pair from the correction below the level of 1.0942 with the target of 1.08 – 1.0760.
Alternative scenario: Breakout and consolidation below the level of 1.0942 will make the pair continue the rise up to the levels of 1.11 – 1.11 in the uptrend.
Analysis: Presumably, the formation of the impetus in the first wave i of 5 of (3) has completed. Locally, the “bearish” correction as wave ii is being formed, within which the final wave (c) of ii seems to be developed. If this assumption is correct, the pair will continue to decline locally to the level of 1.08 – 1.0760.
Our opinion: Sell the pair from correction below the level of 1.310 with the target of 1.2740.
Alternative scenario: Breakout and consolidation above of the level of 1.3110, will allow the rise in price up to the level of 1.32 – 1.3250 within the correction of the senior level.
Analysis: Presumably, the formation the third wave (iii) continues. Within this wave the extension of the impetus is being formed with the estimated target of completion at the level of 1.2740. Locally it is likely that the third wave of the junior level (iii) of iii is nearing completion. If this assumption is correct and the price does not break out the critical level of 1.3110, it makes sense to expect that the pair will continue to decline to the level of 1.2740.
GBP/USD Wave analysis and forecast of 05.09 – 12.09: The “bearish” correction is likely to develop.Estimated pivot point is at the level of 1.6286.
Our opinion: Buy the pair above the level of 1.6286 with the target of 1.67. If the price consolidates below the level of 1.6286 – sell with the target of 1.58.
Alternative scenario: Breakout and consolidation below the level of 1.6286 will enable the price to continue the decline to the level of 1.58.
Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction is nearing completion. At the moment it is likely that the pair may reverse and the price will undergo correction in the wave B. In case of breakdown and consolidation of the price below the level of 1.6286, and if the third wave will become the shortest and marking will be wrong, it will make sense to expect that the pair will continue to decline and the extension of the wave structure of the local impetus will be formed.
USD/CHF Wave analysis and forecast of 05.09 – 12.09: The pair will continue to grow.Estimated pivot point is at the level of 0.9174.
Our opinion: Buy the pair from the correction above the level of 0.9174 with the target of 0.9440.
Alternative scenario: Breakout and consolidation below of the level of 0.9174 will make the pair continue the decline to 0.91 – 0.9050.
Analysis: The pair continues to grow and in view of the current wave pattern we can assume that the extension with the targeted estimated level of 262% - 0.9440 is being formed in the third wave iii of the senior level. Locally it is likely that the third wave of the junior level is being formed (iii) of iii which may reach the level of 0.94. If this assumption is true, and the price does not break down the critical level of 0.9174, the pair may continue to grow.
USD/JPY Wave analysis and forecast of 05.09 – 12.09: Uptrend has resumed. The pair is likely to grow.Estimated pivot point is at the level of 103.56.
Our opinion: Buy the pair from correction above the level of 103.56 with the target of 106.30 – 107.60.
Alternative scenario: Breakout and consolidation below the level of 103.56 will enable the pair to continue the decline to the levels of 102.0 – 101.0.
Analysis: Because of the active rise in the pair and breakout of the critical levels, the wave pattern has to be revised. At the moment due to the pattern of the long-term rise in the pair, makes it possible that the fifth wave of the “bullish” impetus is being formed with the target level of 107.60. Locally it is possible that the third wave of the junior level 3 of (5) is being formed. If this assumption is correct and if the price does not break down the critical level of 103.56, it makes sense to expect the rise in the pair up to the levels of 106.30 – 107.60.
USD/СAD Wave analysis and forecast of 05.09 – 12.09: The formation of the “bearish” correction.Estimated pivot point is at the level of 1.0942.
Our opinion: Sell the pair from the correction below the level of 1.0942 with the target of 1.08 – 1.0760.
Alternative scenario: Breakout and consolidation below the level of 1.0942 will make the pair continue the rise up to the levels of 1.11 – 1.11 in the uptrend.
Analysis: Presumably, the formation of the impetus in the first wave i of 5 of (3) has completed. Locally, the “bearish” correction as wave ii is being formed, within which the final wave (c) of ii seems to be developed. If this assumption is correct, the pair will continue to decline locally to the level of 1.08 – 1.0760.
 | The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |