Best Forex Brokers:Forex Wave analysis and forecast of 22.08 – 29.08.2014
EUR/USD Wave analysis and forecast of 22.08 – 29.08: Bearish correction is likely to form .
Estimated pivot point is at the level of 1.3240.
Our opinion: In the short-term: buy the pair from correction above the level of 1.3240 with the targets of 1.3350 – 1.3370. In the medium-term: wait for the completion of the fourth wave.
Alternative scenario: Breakout and consolidation below the level of 1.3240 will make the price go down to the levels of 1.32 – 1.3150 in the extension of the third wave.
Analysis: Presumably, the formation of the third wave (iii) of the bearish momentum has completed. Locally, the formation of the fourth wave (iv) is not excluded. If this assumption is correct, after the completion of the fourth wave the pair will continue to decline to the levels of 1.31 – 1.3040 in the final fifth wave (v).
GBP/USD Wave analysis and forecast of 22.08 – 29.08: Downtrend continues.
Estimated pivot point is at the level of 1.6640.
Our opinion: Sell the pair from correction below the level of 1.6640 with the target of 1.64 – 1.63.
Alternative scenario: Breakout and consolidation above the level of 1.6640 will make the price continue the rise to the levels of 1.67 – 1.68 as part of the deep correction.
Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction continues. By all appearances, the third wave has formed, and the local correction in the wave iv has started. If this assumption is correct and the price does not break down the critical level of 1.6640, the pair will continue to decline to the levels of 1.64 – 1.63.
USD/CHF Wave analysis and forecast of 22.08 – 29.08: Uptrend dominates.
Estimated pivot point is at the level of 0.9145.
Our opinion: Sell the pair from correction below the level of 0.9145 with the target of 0.9018.
Alternative scenario: Breakout and consolidation above the level of 0.9145 will make it possible for the price to continue the growth to the level of 0.92.
Analysis: Presumably, the formation of the ascending momentum in the third wave (iii) has completed. Locally, a formation of the “bearish” correction in the fourth wave (iv) is not excluded. If this assumption is correct, after the completion of the correction the pair will continue to rise in the fifth wave to the levels of 0.9250 – 0.93.
USD/JPY Wave analysis and forecast of 22.08 – 29.08: The pair is likely to decline.
Estimated pivot point is at the level of 104.11.
Our opinion: Wait till the reversal forms and sell the pair with the targets of 101.50 – 101.0 if it consolidates below the level of 104.11.
Alternative scenario: Breakout and consolidation above the level of 104.11 will make it possible for the price to continue the growth to the level of 105.0.
Analysis: On the daily timeframe it is not excluded that the formation of the horizontal correction in a form of the wave (B) is nearing completion. At the moment it is likely that the formation of the wave (C) is being completed, within which, by all appearances, a diagonal triangle has formed. If this assumption is correct, it’s logical to expect soon the reversal and the start of a medium-term decline to the level of 99.45 in the wave (C).
USD/СAD Wave analysis and forecast of 22.08 – 29.08: The pair is likely to grow.
Estimated pivot point is at the level of 1.0857.
Our opinion: Buy the pair from correction above the level of 1.0857 with the target of 1.1060.
Alternative scenario: Breakout and consolidation below the level of 1.0857 will make it possible for the price to continue the decline to the level of 1.08 in the second wave.
Analysis: Presumably, the formation of the ascending momentum in the first wave i of 5 of (3) is being completed. Locally, the fifth wave (v) is being formed and nearing completion. If this assumption is correct, it’s logical to expect a deep correction to form in the wave ii of 5 of (3) near the level of 1,08.
