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Friday, 21 April 2017 19:07 Written by

Wave analysis and forecast for 21.04.2017 – 28.04.2017 by Lite Forex



EUR/USD

 

Wave analysis and forecast for 21.04 – 28.04: The pair is expected to decline.

Estimated pivot point is at the level of 1.0776.

Analysis: Supposedly, the fifth wave 5 of senior level continues to form. Apparently, the first wave i of 5 has formed as a zigzag-like pattern, which allows us to suppose that a diagonal triangle may form in the fifth wave. Apparently, the ascending correction ii of 5 is completed in a zigzag-like form at a correction level of 62%. If the presumption is correct, the pair will logically resume dropping to the levels 1.0600 – 1.0450. The level 1.0776 is critical in this scenario.

Alternative scenario: Breakout and consolidation above the level of 1.0776 will allow the pair to continue rising to a level of 1.0904.


Our opinion: Sell the pair from correction below the level of 1.0776 with a target at 1.0600 – 1.0450.

 


GBP/USD

 

Wave analysis and forecast for 21.04 – 28.04: Uptrend continues.

Estimated pivot point is at the level of 1.2704.

Analysis: Presumably, an ascending correction of senior level continues to form as the fourth wave 4, with the wave c of 4 developing within. Apparently, the third wave (iii) of c continue to form locally, with a bullish impetus developing inside. If the presumption is correct, the pair will continue to rise to the levels 1.2950 – 1.3050. The level 1.2704 is critical in this scenario.

Alternative scenario: Breakout and consolidation below the level of 1.2704 will allow the pair to continue declining to a level of 1.2350.


Our opinion: Buy the pair from correction above the level of 1.2704 with a target of 1.2950 – 1.3050.

 


USD/CHF

Wave analysis and forecast for 21.04 – 28.04: The pair is expected to grow.

Estimated pivot point is at the level of 0.9938.

Analysis: Supposedly, the third wave 3 of senior level continues to form. Apparently, a counter-trend impetus has been formed as the wave (i) and the descending correction (ii) has reached Fibonacci 50% and finished developing locally. If the presumption is correct, the pair will logically resume rising to a level of 1.0104 – 1.0160 within the third wave (iii). The level 0.9938 is critical in this scenario.

Alternative scenario: Breakout and consolidation below the level of 0.9938 will allow the pair to continue declining to a level of 0.9813.


Our opinion: Buy the pair from correction above the level of 0.9938 with a target of 1.0104 – 1.0160.

 


USD/JPY

Wave analysis and forecast for 21.04 – 28.04: Downtrend continues.

Estimated pivot point is at the level of 110.20.

Analysis: Supposedly, a downtrend continues forming within the third wave iii of senior level. Apparently, the third wave (iii) of junior level is developing locally, with an ascending correction iv of (iii) nearing completion inside. If the presumption is correct, the pair will logically continue to drop to the level of 107.50. The level 110.20 is critical in this scenario.

Alternative scenario: Breakout and consolidation above the level of 110.20 will allow the pair to continue the rise up to the levels of 112.65 – 113.26.


Our opinion: Sell the pair from corrections below the level of 110.20 with a target at 107.50.


USD/CAD

 

Wave analysis and forecast for 21.04 – 28.04: The pair resumes growth.

Estimated pivot point is at the level of 1.3380.

Analysis: Apparently, a long-term ascending correction within the wave B continues to form. Presumably, the wave c of B is developing locally, with the third wave of junior level (iii) forming within. If the presumption is correct, the pair will continue to rise to the levels 1.3560 – 1.38. The level of 1.3380 may be critical in this scenario as the breakout will enable the pair to continue declining to the level of 1.3220.

Alternative scenario: Breakout and consolidation below the level of 1.3380 will allow the pair to continue declining to the level of 1.3220.


Our opinion: Buy the pair from correction above the level of 1.3380 with a target of 1.3560 – 1.38. Sell the pair with a target at 1.3220 in case the level 1.3380 is broken.

 

Source: http://www.liteforex.com/

 

Read 218 times Last modified on Friday, 21 April 2017 19:07

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