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Wave analysis and forecast for 17.03.2017 – 24.03.2017 by LiteForex

EUR/USD

Wave analysis and forecast for 17.03 – 24.03: The pair is likely to decline.

Estimated pivot point is at the level of 1.0828.

Analysis: Presumably, the formation of the fifth wave 5 of the senior level continues, within which the upward correction as the wave ii of 5 is being developed. Locally, it seems that the final wave (c) of ii is being formed, which may soon complete. If this assumption is correct, after the completion of the wave (с) the pair may continue to decline to 1.0600 – 1.0500. Critical level for this scenario is 1.0828.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0828 may trigger further rise in the pair up to 1.0950.


Our opinion: Sell the pair from correction below the level of 1.0828 with the target of 1.0600 – 1.0500.

 


GBP/USD

Wave analysis and forecast for 17.03 – 24.03:The pair is likely to rise.

Estimated pivot point is at the level of 1.2233.

Analysis: Presumably, the formation of the upward correction as the wave 4 of the senior level continues. Within this wave the wave b of 4 has completed. Locally, it it likely that one-two first wave (i) is being developed. If this assumption is correct, the pair may continue to rise up to 1.2476 – 1.2705. Critical level for this scenario is 1.2100.

Alternative scenario: Breakout and consolidation of the price below the level of 1.2233 will trigger further decline in the pair to 1.2100.


Our opinion: Buy the pair from correction above the level of 1.2233 with the target of 1.2476 – 1.2705.

 


USD/CHF

Wave analysis and forecast for 17.03 – 24.03: The pair is likely to grow.

Estimated pivot point is at the level of 0.9950.

Analysis: Presumably, the formation of the downward correction ii of 3 has completed, within which the zigzag has formed. Locally, it is likely that the pair will reverse. If this assumption is correct, the rise in the pair can resume up to continue to 1.0060 – 1.0106. Critical level for this scenario is 0.9950.

Alternative scenario: Breakout and consolidation of the price below the level of 0.9950 will trigger decline in the pair to 0.9863.


Our opinion: Buy the pair from correction above the level of 0.9950 with the target of 1.0060 – 1.0106.

 


USD/JPY

Wave analysis and forecast for 17.03 – 24.03: Downtrend dominates.

Estimated pivot point is at the level of 113.88.

Analysis: Presumably, the formation of the wave (С) of the senior level continues. Locally, it is likely that the upward correction as the second wave ii has completed and the third wave iii is being formed, within which an impetus is being developed as the wave (i). If this assumption is correct, the pair may continue to decline to 112.50 – 111.65. Critical level for this scenario is 113.88.

Alternative scenario: Breakout and consolidation of the price above the level of 113.88 will trigger further rise in the pair up to 114.48.


Our opinion: Sell the pair from correction below the level of 113.88 with the target of 112.50 – 111.65.

 


USD/CAD

Wave analysis and forecast for 17.03 – 24.03: Downtrend continues.

Estimated pivot point is at the level of 1.3383.

Analysis: Presumably, the formation of the wave C of the senior level continues. Locally it is likely that the upward correction, as the wave ii of C has completed and the third wave iii of C is being developed, within which the first wave of the junior level (i) is being formed. If this assumption is correct, the pair can decline to 1.3238 – 1.3053. Critical level for this scenario is 1.3383.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3383 will trigger further rise in the pair up to 1.3430 – 1.3540.


Our opinion: Sell the pair from correction below the level of 1.3383 with the target of 1.3238 – 1.3053.

 

Source: http://www.liteforex.com/

 

 

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