Weekly analysis for forex trading, The Date of 27.07 – 05.08

Wave analysis and forecast for 27.07 – 05.08

EUR/USD: Wave analysis and forecast for 29.07 – 05.08: The pair is likely to grow.
Estimated pivot point is at the level of 1.0960.

Our opinion: Buy the pair from correction above the level of 1.0960 with the target of 1.1163 – 1.14.

Alternative scenario: Breakout and consolidation of the price below the level of 1.0960 may trigger the decline in the pair to 1.08. 
GBP/USD: Wave analysis and forecast for 29.07 – 05.08: The pair is likely to grow.
Estimated pivot point is at the level of 1.3055.

Our opinion: Buy the pair from correction above the level of 1.3055 with the target of 1.3640 - 1.3880.

Alternative scenario: Breakout and consolidation of the price below the level of 1.3055 may trigger further decline to 1.2780.
USD/CHF: Wave analysis and forecast for 29.07 – 05.08: Downtrend continues.
Estimated pivot point is at the level of 0.9955.

Our opinion: Sell the pair from correction below the level of 0.9955 with the target of 0.9510 – 0.93.

Alternative scenario: Breakout and consolidation of the price above the level of 0.9955 will trigger further rise up to 1.0 – 1.0100.
USD/JPY: Wave analysis and forecast for 29.07 – 05.08: Uptrend continues.
Estimated pivot point is at the level of 99.88.

Our opinion: Buy the pair from correction above the level of 99.88 with the target of 109.00.

Alternative scenario: Breakout and consolidation of the price below the level of 99.88 will trigger further decline in the pair to 97.00 – 96.00.
USD/CAD: Wave analysis and forecast for 27.07 – 05.08: The pair is likely to decline.
Estimated pivot point is at the level of 1.3243.

Our opinion: Sell the pair from correction below the level of 1.3243 with the target of 1.2858.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3243 will trigger further rise in the pair up to 1.33 – 1.34, or higher.