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Main » 2020 » February » 29 » Wave analysis and forex forecast for the week 02.03.20 - 06.03.20: EUR/USD, GBP/USD, USD/JPY, USD/cad, USD/CHF, XAU/USD
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Wave analysis and forex forecast for the week 02.03.20 - 06.03.20: EUR/USD, GBP/USD, USD/JPY, USD/cad, USD/CHF, XAU/USD

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EUR/USD: Wave analysis and forecast for the week 28/02/20 - 03/06/20

 

The probability of growth of the pair EUR / USD is maintained. Estimated pivot point is at 1.0866.

 

 

 

 

 

The main scenario EURUSD : «long position" in EURUSD from the relevant correction above 1.0866 level with the aim of 1.1240 - 1.1400.

Alternative scenario EURUSD : breakdown and fixing prices below the level of 1.0866 will allow the pair to continue to decline in EURUSD to marks 1.0780 - 1.0700.

Analysis EURUSD:  within day timeframe presumably it completed the formation of a descending correction upper layer as a second wavelength 2, within which completed the development of the wave (C) of 2. At the 4 - hour timeframe presumably completed fifth wave 5 of (C) and formation of the wave 1 of (1) of 3. within hours timeframe, apparently develops first filar wave i of junior level 1 and if the assumption is correct, after completion of the local correction ii of growth 1 EURUSD pair proceeds to marks 1.1240 - 1.1400. Critical to this scenario is the level of 1.0866.

 

The pair GBP / USD: Wave analysis and forecast for the week 02/28/20 - 03/06/20

 

The correction is completed, the probability of growth of the pair GBP / USD. Estimated pivot point is at 1.2797.

 

 

The main scenario GBPUSD : «long positions" in Paer GBPUSD relevant corrections from above 1.2797 level with the aim of 1.3211 - 1.3514.

Alternative scenario GBPUSD : breakdown and fixing prices below the level of 1.2797 will allow the pair to continue to decline in GBPUSD to 1.2735 marks - 1.2555.

Analysis: within day timeframe presumably complete the formation of a descending correction upper layer as a second wave (2) and wave began development (3). At the 4 - hour timeframe first wave 1 is formed of (3) and is nearing completion of development 2 downward correction of (3), within which ends c of 2. The wave development within the hour timeframe appear fifth wave formed junior level ( v) of c and if the assumption is true, after its end it is logical to expect the pair to 1.3211 marks - 1.3514. Critical to this scenario is the level of 1.2797, a break of which will continue to decline in GBPUSD pair of marks to 1.2735 - 1.2555.

 

USD / JPY: Wave Analysis and Forecast: 28/02/20 - 03/06/20

 

The probability of decrease in pair USD / JPY. Estimated pivot point is at 112.20.

 

 

The main scenario USDJPY : «short positions" are relevant from the corrections below 112.20 with the aim of 106.60 - 104.58.

Alternative USDJPY : breakdown and fixing prices above the level of 112.20 will allow the USDJPY to continue to grow to marks 114.50 - 119.00.

Analysis USDJPY:  within a week timeframe presumably completed development of large horizontal correction as a wave (B) of B, which took the shape of a triangle. On the daily timeframe USDJPY completed the formation of wave E of (B) and begins development of wave (C) of B. As part of the 4 - hour timeframe, apparently, formed the first wave of junior level Zachodni (i) of i and if the assumption is true, pair decrease will proceed to the marks of 106.60 - 104.58. Critical to this scenario is the level of 112.20, a break of which will USDJPY to continue to grow to marks 114.50 - 119.00

 

USD / cad: Wave analysis and forecast for the week 02/28/20 - 03/06/20

 

The probability of USD / CAD pair of growth is maintained. Estimated pivot point is at 1.3271.

 

 

The main scenario USDCAD : «longs» gj USDCAD relevant corrections from above the level of 1.3271 with the aim of 1.3564 - 1.3664.

Alternative scenario USDCAD : breakdown and fixing prices below 1.3271 USDCAD will allow further reduction to marks 1.3201 - 1.3142.

Analysis USDCAD : day timeframe within Presumably, formation of a downward correction to an upper layer of the second wave (2) and wave began development (3). At the 4 - first filar wave junior level 1 of (3) is formed hour timeframe USDCAD, which takes the form of a pulse. Within the hour timeframe, most likely, is developing fifth wave of junior level v of 1, which included the wave (iii) of v. If the assumption is true, the USDCAD pair growth will proceed to the marks of 1.3564 - 1.3664. Critical to this scenario is the level of 1.3271, a break of which will continue to decline USDCAD to marks 1.3201 - 1.3142.

 

USD / CHF: Wave analysis and forecast for the week 02/28/20 - 03/06/20

 

Reducing the likelihood of USDCHF pair is maintained. Estimated pivot point is at 0.9778.

 

 

The main scenario is USD / CHF : «short positions" of the relevant correction below 0.9778 with the aim of 0.9612 - 0.9500.

Alternative Scenario USD / CHF : breakdown and fixing prices above the level of 0.9778 will allow the USD / CHF to continue to grow to marks 0.9849 - 1.0145.

Analysis USD / CHF:  within day timeframe presumably completed development ascending correction upper layer as a wave (2) and formation of the wave (3). At the 4 - hour timeframe USD / CHF, there is a development of the third wavelength 3 of (3), within which complete the formation of the correction as 3 ii of waves and wave development began iii of 3. Within hours timeframe, appear first formed filar wave junior level (i) of iii of 3 and if the assumption is true, then the reduction will continue to marks pair 0.9612 - 0.9500. Critical to this scenario is the level of 0.9778, in which case the USD / CHF will continue to rise to the breakdown of marks 0.9849 - 1.0145.

 

XAU / USD Gold: Wave analysis and forecast for the week 02/28/20 - 03/06/20

 

Probability XAU / USD pair growth persists. Estimated pivot point is at the level of 1618.18.

 

 

The forecast for the week Author  Alexander Geuta LiteForex

 

 

 
 
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