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Best Forex Brokers:Wave analysis and forecast of 02.05 – 09.05.2014

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Best Forex Brokers:Wave analysis and forecast of 02.05 – 09.05.2014

EUR/USD: Wave analysis and forecast of 02.05 – 09.05: The pair will continue to grow. Estimated pivot point is at the level of 1.3770.
Our opinion: Buy the pair from correction above the level of 1.3770 with the target of 1.3950 – 1.40.
Alternative scenario: Breakout of the level of 1.3770 will enable the price to continue decline to the level of 1.3720.
Analysis: Presumably, zigzag (a)(b)(c) is being formed in the fifth wave of a diagonal triangle, which is completing long-term correction. Locally, formation of correction in wave (b) has completed, and downward impetus in wave (c) is being formed. Critical level for this scenario is 1.3670.
EURUSD H4

EURUSD Dayli

GBP/USD Wave analysis and forecast for 25.04 – 02.05: The pair continues to decline. Estimated pivot point is at the level of 1.6760.
Our opinion: Buy the pair from correction above the level of 1.6760 with the target of 1.70.
Alternative scenario: Breakout of the level of 1.6760 will enable the price to continue decline to the levels of 1.67 – 1.66.
Analysis: Presumably, the formation of the fifth final wave of the ascending zigzag continues on the daily timeframe. Locally, it is possible that extension in the fifth shallow wave (v) of V of C is being formed. If this assumption is correct the pair will continue to grow to the level of 1.70.
GPBUSD H4

GPBUSD Daily

USD/CHF Wave analysis and forecast for 02.05 – 09.05: Formation of the “bullish” correction continues. Estimated pivot point is at the level of 0.8768.
Our opinion: In the short-term: buy the pair above the level of 0.8768 with the target of 0.8880. In the medium-term: wait for the completion of correction and sell the pair after confirmation of reversal.
Alternative scenario: Breakout of the level of 0.8768 will enable the pair to continue decline in the third wave.
Analysis: Presumably, the formation of the upward correction as the second wave is still ongoing. Locally, the first and the second waves in the wave (с) of ii have been formed. . If this assumption is correct, in the short term the pair may go up to the level of 0.8872.
USDCHF H1

USDCHF Daily

USD/JPY Wave analysis and forecast for 02.05 – 09.05: Upward correction has been formed. The pair is likely to decline. Estimated pivot point is at the level of 102.78.
Our opinion: Sell the pair below the level of 102.78 with the target of 100.0.
Alternative scenario: Breakout of the level of 102.78 will enable the rise in the pair to the level of 103.40.
Analysis: Presumably ascending correction as the second wave has completed. Locally, in-lead first wave is being formed and if the price does not break down critical level of 102.78, it makes sense to expect that decline in price will continue up to the levels of 100.0 – 99.0.
USDJPY H4

USDJPY Daily
USD/CAD Wave analysis and forecast for 02.05 – 09.05: The pair is likely to decline. Estimated pivot point is at the level of 1.1053.
Our opinion: Sell the pair from correction below the level of 1.1053 with the target of 1.0730.
Alternative scenario: Breakout of the level of 1.1053 will enable the pair to continue growth to the level of 1.12.
Analysis: Presumably, the formation of the ascending correction in the wave b of 4 has completed and the wave c started to develop. If this assumption is correct, and the price does not break down critical level of 1.1051, the pair will continue to decline to the levels of 1.8850 – 1.0730 in the fourth wave of the senior level.
USDCAD H4

USDCAD Dayli

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