European currency under pressure. The pair is likely to decline.
Estimated pivot point is at the level of 1.3220.
Our opinion: Sell the pair below the level of 1.3220 with the target of 1.3040
Alternative scenario: Breakout and consolidation above the level of 1.3220 will make the price continue the rise to the levels of 1.33 – 1.3350 as part of the senior level correction.
Analysis: Supposedly, the third wave (iii) is still being formed with the impetus extension. It is likely to be completed near the level of 1.3040. If this assumption is correct and the price does not consolidate above the level of 1.3220, it's logical to expect the pair to continue to decline to the levels of 1.31 – 1.3040.
EURUSD H4
EURUSD Dayli
GBP/USD Wave analysis and forecast of 29.08 – 05.09: Downtrend continues.
Estimated pivot point is at the level of 1.6640.
Our opinion: Sell the pair from correction below the level of 1.6640 with the target of 1.64 – 1.63.
Alternative scenario: Breakout and consolidation above the level of 1.6640 will make the price continue the rise to the levels of 1.67 – 1.68 as part of the deep correction.
Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction continues. By all appearances, the forming of the local correction in the wave iv is nearing completion. If this assumption is correct and the price does not break down the critical level of 1.6640, the pair will continue to decline to the levels of 1.64 – 1.63.
GPBUSD H4
GPBUSD Daily
USD/CHF Wave analysis and forecast of 29.08 – 05.09: The pair is likely to decline as part of correction.
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.
USDCHF H4
USDCHF Daily
USD/JPY Wave analysis and forecast of 29.08 – 05.09: The pair is likely to decline.
Estimated pivot point is at the level of 104.30.
Our opinion: Sell the pair below the level of 104.30 with the target of 101.50 – 101.0.
Alternative scenario: Breakout and consolidation above the level of 104.30 will make it possible for the price to continue the growth to the level of 105.0.
Analysis: On the daily timeframe it is not excluded that the formation of the horizontal correction as the wave (B) is nearing completion. At the moment it is likely that the formation of the wave (C) is completed, within which, by all appearances, a diagonal triangle has formed. If this assumption is correct, it's logical to expect soon a medium-term decline to the level of 99.45 in the wave (C).
USDJPY H4
USDJPY Daily
USD/СAD Wave analysis and forecast of 29.08 – 05.09: "Bearish" correction is being formed.
Estimated pivot point is at the level of 1.0998.
Our opinion: Sell the pair from correction below the level of 1.0998 with the target of 1.08 – 1.0760
Alternative scenario: Breakout and consolidation above the level of 1.0998 will make the price continue the rise to the levels of 1.11 – 1.12 as part of the upward trend.
Analysis: Presumably, the formation of the ascending momentum in the first wave i of 5 of (3) is completed. Locally, a bearish correction is being formed in a form of the wave ii. If this assumption is correct, the pair will continue its local decrease to the levels of 1.08 – 1.0760.
USDCAD H4
USDCAD Daily
Thats all of Forecast And Wave Analysis Of 29.08-05.09 full wishes it will give you more bennefites
