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Wave analysis and forecast for 16.09 – 23.09 by LiteForex

 

EUR/USD Wave analysis and forecast for 16.09 – 23.09: The decline in the pair is likely to continue.

Estimated pivot point is at the level of 1.1286.

Our opinion: Sell the pair from correction below the level of 1.1286 with the target of 1.1120 – 1.0930.

Alternative scenario: Breakout and consolidation of the price above the level of 1.1286 may trigger the rise in the pair to 1.1427.

Analysis: Presumably, the formation of the wave c of 2 of the senior level continues. Locally it is likely that the upward correction as the wave (ii) has completed and the third wave (iii) is being developed. If this assumption is correct, the pair can decline to 1.1120 or further down. Critical level for this scenario is 1.1286.

 

 

 

 

GBP/USD Wave analysis and forecast for 16.09 – 23.09: The pair is likely to decline.

 

Estimated pivot point is at the level of 1.3431.

Our opinion: Sell the pair from correction below the level of 1.3431 with the target of 1.2863.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3431 will enable the pair to continue the rise up to 1.35 – 1.3550.

Analysis: Presumably, the formation of the correction, as the wave 2 completed. Locally, it is likely that the third wave is being developed, within which the one-two impetus (i) of the junior level has been formed. If this assumption is correct, after the completion of the correction (ii) the pair will continue to decline to 1.2863. Critical level for this scenario is 1.3431.

 

 

USD/CHF Wave analysis and forecast for 16.09 – 23.09: The pair is undergoing correction.

Estimated pivot point is at the level of 0.9789.

Our opinion: In the short-term: sell the pair below the level of 0.9789 with the target of 0.9650. In case of breakout of the level of 0.9789, sell with the target of 0.9884 – 0.9960.

Alternative scenario: Breakout and consolidation of the price above the level of 0.9647 will trigger the rise in the pair up to 0.9884 – 0.9960.

Analysis: Presumably, the formation of the upward correction as the wave ii of the senior level continues. Within this wave the final wave (с) of ii is being formed. Locally it is likely that downward correction as the wave ii of (c) of the junior level is being developed. If this assumption is correct, the pair may continue to rise up to 0.9884 – 0.9962. Critical level for this scenario is 0.9533.

 

 

USD/JPY Wave analysis and forecast for 16.09 – 23.09: The pair is likely to decline.

 

Estimated pivot point is at the level of 103.38.

Our opinion: Sell the pair from correction below the level of 10.38 with the target of 98.90 – 95.00.

Alternative scenario: Breakout and consolidation of the price above the level of 103.38 will trigger the rise in the pair up to 105.00 – 106.00.

Analysis: Presumably, the formation of the third wave iii of 5 continues in the diagonal triangle. Locally, it is likely that the upward correction of the junior level ii of (c) of iii has completed. If this assumption is correct, the pair will continue to decline to 98.90 – 95.00. Critical level for this scenario is 1103.38.

 

 

USD/CAD Wave analysis and forecast for 16.09 – 23.09: The pair is likely to decline.

 

Estimated pivot point is at the level of 1.3250.

Our opinion: Sell the pair from correction below the level of 1.3250 with the target of 1.2824.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3250 will trigger further rise in the pair up to 1.3320.

Analysis: Presumably, the formation of the wave C of the senior level continues. Locally, it seems that the upward correction as the wave (ii) has completed. If this assumption is correct, the pair will start to decline to the levels of 1.2824 - 1.2480 in the third wave. Critical level for this scenario is 1.3250.

 

Source: http://www.liteforex.com/

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