Our opinion: Wait until correction finishes and reversal starts and buy above 1.3200 with the target of 1.38.
Alternative scenario: Downside breakout at the level of 1.32 will abolish anticipated scenario of development of the fifth wave and will enable the price to go down to the levels of 1.27 – 1.26.
Analysis: It is assumed that formation of the fourth wave of the diagonal in wave C is near completion. The target of correction completion is projected near the level of 1.33.
GBP/USD Wave analysis and forecast for 15.02 – 22.02: Downtrend continues to persist. There is a chance of correction.Our pivot point is at the level of 1.5690.
Our opinion: Sell below 1.5690 with the target levels of 1.54 – 1.5340.
Alternative scenario: Upside breakout at the level of 1.5690 will give rise to the local correction and to the growth in the pair up to the levels of 1.58 - 1.60.
Analysis: Presumably, downward impetus in the form of wave 1 or A is nearing completion. Locally formation of the diagonal in the fifth wave will complete soon. Probably, upward correction will affect the entire decline from the levels 1.54 – 1.5340.
USD/CHF Wave analysis and forecast for 15.02 – 22.02: Downtrend prevails. Local correction is near completion.Our pivot point is at the level of 0.9390.
Our opinion: Sell below 0.9391 with the target levels of 0.89 – 0.88.
Alternative scenario: Upside breakout at the level of 0.9391 will abolish anticipated scenario of downward movement and will enable the rise in the pair up to 0.95.
Analysis: Presumably, upward correction in the form of the second wave 2 оf iii of 3 is near completion. In the near future the price may reverse downward and downtrend in the third wave 3 of iii may resume.
USD/JPY Wave analysis and forecast for 15.02 – 22.02: Downtrend prevails. Local correction is near completion.Our pivot point is at the level of 0.9390.
Our opinion: Sell below 0.9391 with the target levels of 0.89 – 0.88.
Alternative scenario: Upside breakout at the level of 0.9391 will abolish anticipated scenario of downward movement and will enable the rise in the pair up to 0.95.
Analysis: Presumably, upward correction in the form of the second wave 2 оf iii of 3 is near completion. In the near future the price may reverse downward and downtrend in the third wave 3 of iii may resume.
USD/СAD Wave analysis and forecast for 15.02 – 22.02: Uptrend dominates. Growth in the pair may resume.Our pivot point is at the level of 0.9929.
Our opinion: Buy above the level of 0.9929 with the target levels of 1.02 – 1.03.
Alternative scenario: Downside breakout of the level of 0.9929 will accelerate downward correction in the second wave of the higher level to 0.9880.
Analysis: Presumably, local downward correction in the form of wave 2 of the estimated upward momentum in the third wave of the higher level has completed. Uptrend may resume in the near future.
