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USD/CAD: technical analysis 15 October 2019, 12:43

USD/CAD: technical analysis 15 October 2019, 12:43 Scenario Timeframe Weekly Recommendation BUY STOP Entry Point 1.324...

Aug 9, 2019

GBP/USD: wave analysis 09 August 2019, 09:55


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.2141
Take Profit 1.1900, 1.1800
Stop Loss 1.2217
Key Levels 1.1800, 1.1900, 1.2217, 1.2554, 1.2781
Alternative scenario
Recommendation BUY STOP
Entry Point 1.2220
Take Profit 1.2554, 1.2781
Stop Loss 1.2105
Key Levels 1.1800, 1.1900, 1.2217, 1.2554, 1.2781
The pair may fall.
On the 4-hour chart, a downward correction of the higher level develops as the wave (2), within which the wave C of (2) forms. Now, the fifth wave v of C is developing, within which the third wave of the lower level (iii) of v is forming. If the assumption is correct, the pair will fall to the levels of 1.1900–1.1800. In this scenario, critical stop loss level is 1.2217.


Main scenario
Short positions will become relevant during the correction, below the level of 1.2217 with the targets at 1.1900–1.1800. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2217 will let the pair grow to the levels of 1.2554–1.2781.

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