Estimated pivot point is at the level of 1.0950.
Our opinion: Buy the pair from correction above the level of 1.0950 with the target of 1.15 – 1.16.
Alternative scenario: Breakout and consolidation of the price below the level of 1.0950 will allow the pair to continue decline to 1.06 – 1.05.
Analysis: Presumably, the development of the third wave of the senior level continues. Locally, it seems that the downward correction as the fourth wave (iv) of the junior level has completed. If this assumption is correct, the pair will to rise to 1.1500 – 1.1600 in the fifth wave (v) of iii. Critical level for this scenario is 1.0950. Breakdown of this level will trigger decline in the pair to 1.06 – 1.05.
GBP/USD: Wave analysis and forecast for 26.02 – 04.03: Downtrend continues.
Estimated pivot point is at the level of 1.4213.
Our opinion: Sell the pair from correction below the level of 1.4213 with the targets of 1.3750 – 1.34.
Alternative scenario:
Breakout and consolidation of the price above the level of 1.4213 will
enable the pair to continue the rise to the levels of 1.4250 – 1.4350.
Analysis: Presumably, “bearish” impetus continues to develop in the third wave of the senior level. At the moment it seems that the fifth wave of the junior is being developed. Within this wave extension of the momentum in the third wave (iii) is being formed. If this assumption is correct, the pair will continue to decline to 1.3950 – 1.3850.
USD/CHF: Wave analysis and forecast for 26.02 – 04.03: Downtrend continues.
Estimated pivot point is at the level of 1.0002.
Our opinion: Sell the pair from correction below the level of 1.0002 with the target of 0.9650 – 0.9470.
Alternative scenario:
Breakout and consolidation of the price above the level of 1.0002 will
allow the pair to continue the rise up to the level of 1.05.
Analysis:
Presumably, the formation of the downward momentum continues in the
third wave iii of C. Locally, it is likely that the correction as the
second wave of the junior level (ii) of iii has completed. If this
assumption is true, the pair can continue to rise up to 0.9650 – 0.9470.
Critical level for this scenario is 1.0002.
USD/JPY: Wave analysis and forecast for 26.02 – 04.03: The pair is undergoing correction.
Estimated pivot point is at the level of 111.00.
Our opinion:
In the short-term: buy the pair above the level of 111.00 with the
target of 114.90. In case of breakdown of the level of 111.00, sell with
the target of 106.70.
Alternative scenario: Breakout and consolidation of the price below the level of 111.00 allow the pair to continue decline to the level of 106.70.
Analysis: Presumably the formation of the downward impetus continues in the third wave of the senior level. At the moment it is likely that upward correction is being formed as the fourth wave (iv) of iii, which might take a shape of a plane. If this assumption is correct, in the short-tern the pair can rise up to 114.00 – 114.90.. Critical level for this scenario is 111.00.
USD/СAD: Wave analysis and forecast for 26.02 – 04.03: Downtrend dominates.
Estimated pivot point is at the level of 1.3860.
Our opinion: Sell the pair from correction below the level of 1.3860 with the target of 1.3280 – 1.3054.
Alternative scenario:
Breakdown and consolidation of the price above the level of 1.3860 will
enable the pair to continue the rise up to 1.40 – 1.41.
Analysis: Presumably, the formation of the double downward zigzag continues in the first wave of the emerging large “bearish” correction. Locally, it seems that the correction as the wave x has completed and momentum in wave (a) of y is developing. If this assumption is correct, the pair can continue to decline to 1.3280 – 1.3054. Critical level for this scenario is 1.3860. Breakdown of this level will trigger the rise in the pair to 1.40 – 1.41.
The analytical materials are provided by
Aleksander Geuta,
a trader and analyst of LiteForex
