Best Forex Broker:Forex Wave analysis and forecast of 19.09 – 26.09.2014
EUR/USD Wave analysis and forecast of 19.09 – 26.09: European currency is under pressure. Downtrend continues.
Estimated pivot point is at the level of 1.3000.
Our opinion: Sell the pair from correction below the level of 1.3000 with the target of 1.2750 – 1.27.
Alternative scenario: Breakout and consolidation above of the level of 1.30 will enable the price to continue growth to the levels of 1.31 – 1.3150, as part of the senior level correction.
Analysis: Presumably, the formation of the “bearish” trend in the third wave iii is still ongoing. Locally, it is likely that the fourth wave of the junior level (iv) of iii has completed and the fifth wave (v) of iii started to develop. If this assumption is correct and the price does not break down the critical level of 1.30, it makes sense to expect that the pair will continue to decline to the level of 1.2750.
GBP/USD Wave analysis and forecast of 19.09 – 26.09: Correction is nearing completion. The pair is likely to decline.
Estimated pivot point is at the level of 1.6450.
Our opinion: Sell the pair below the level of 1.6450 with the target of 1.59 – 1.5850.
Alternative scenario: Breakout and consolidation above the level of 1.6450 will make the price continue the rise up to the levels of 1.65 – 1.6550.
Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction continues. At the moment it is likely that the correction in the fourth wave is nearing completion. If this assumption is correct, the pair will soon continue to drop to the levels of 1.59 – 1.5850.
USD/CHF Wave analysis and forecast of 19.09 – 26.09: Uptrend continues/ Locally, the pair is undergoing correction.
Estimated pivot point is at the level of 0.93.
Our opinion: Buy the pair from the correction above the level of 0.93 with the target of 0.95.
Alternative scenario: Breakout and consolidation below of the level of 0.93 will make it possible for the pair to continue the decline to the levels of 0.9250 – 0.92.
Analysis: The formation of the ascending momentum in the third wave iii of the senior level continues. Locally, “bullish” impetus in the wave (iii) of iii has completed and local correction as the fourth wave (iv) is moving to the levels of 0.9350 – 0.93.
USD/JPY Wave analysis and forecast of 19.09 – 26.09: The pair is likely to grow.
Estimated pivot point is at the level of 107.35.
Our opinion: Buy the pair from correction above the level of 107.35 with the target of 109.50 – 110.00.
Alternative scenario: Breakout and consolidation of the price below the level of 107.35 will enable the pair to continue the decline to the levels of 107.0 – 106.50 as part of correction.
Analysis: Presumably, the formation of the fifth wave of the “bullish” impetus continues on the weekly timeframe, with the target level of 110.0. Locally it seems that the third wave of the junior level 3 of (5) has completed, within which extension has been formed. If this assumption is correct minor correction as the fourth wave will be formed and the pair will continue to rise up to the levels of 109.50 – 110.00.
USD/СAD Wave analysis and forecast of 19.09 – 26.09: Uptrend continues. Locally, the pair is undergoing correction.
Estimated pivot point is at the level of 1.0807.
Our opinion: Buy the pair from the correction above the level of 1.0807 with the target of 1.12.
Alternative scenario: Breakout and consolidation of the price below the level of 1.0807 will enable the pair to continue the decline to the levels of 1.0750 – 1.07.
Analysis: Presumably, local “bearish” correction as the second wave of the junior level (ii) of iii of 5 is nearing completion. If this assumption is correct, after the completion of the correction the pair will continue to grow to the levels of 1.11 – 1.12 in the third wave. Critical level for this scenario is 1.0807.
