Best Forex Brokers – Forex Wave analysis and forecast for 01.04 – 08.04.2016
EUR/USD: Wave analysis and forecast for 01.04 – 08.04: The pair continues to rise.
Estimated pivot point is at the level of 1.1140.
Our opinion: Buy the pair from correction above the level of 1.1140 with the target of 1.16 – 1.1750.
Alternative scenario: Breakout and consolidation of the price below the level of 1.1140 will allow the pair to continue to decline to 1.1050 – 1.0820.
Analysis: Presumably, the formation of the third wave 3 of the senior level continues, in which the extension may be formed. At the moment, it is likely that the third wave iii of 3 is being formed, in which an impetus may be formed. If this assumption is correct, in the medium-term the pair can rise up to 1.16 – 1.1750. Critical level for this scenario is 1.1140. Breakout of this level may trigger decline in the pair to 1.1050 – 1.0820.
GBP/USD: Wave analysis and forecast for 01.04 – 08.04: The pair is likely to decline.
Estimated pivot point is at the level of 1.4460.
Our opinion: Sell the pair from correction below the level of 1.4460 with the target of 1.36 – 1.34.
Alternative scenario: Breakout and consolidation of the price above the level of 1.4460 will enable the pair to continue the rise up to the level of 1.47.
Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the one-two impetus as the first wave i of 5 has developed, and upward correction ii of 5 has completed. If this assumption is correct, the pair may decline to 1.36 – 1.34. Critical level for this scenario is 1.4460.
USD/CHF: Wave analysis and forecast for 01.04 – 08.04: Downtrend continues. Upward correction is possible.
Estimated pivot point is at the level of 0.9660.
Our opinion: In the short-term: buy the pair above the level of 0.9660 with the target of 0.9850. In the medium-term: wait for the completion of the correction and sell the pair with the target of 0.94 – 0.9245.
Alternative scenario: The pair will continue to decline to the levels of 0.95 – 0.94.
Analysis: Presumably, the formation of the downward impetus continues in the third wave iii of C. At the moment it is likely that the third wave of the junior level (iii) of iii is being developed within which the first wave i of (iii) seems to finish and upward correction as the wave ii of (iii) is likely to develop. If this assumption is correct, the pair can rise up to 0.9850. After the completion of the correction the pair may decline to the levels of 0.94 – 0.9245.
USD/JPY: Wave analysis and forecast for 01.04 – 08.04: Downtrend dominates.
Estimated pivot point is at the level of 113.84.
Our opinion: Sell the pair from correction below the level of 113.84 with the targets of 107.00 – 106.60.
Alternative scenario: Breakout and consolidation of the price above the level of 113.84 will trigger rise up to the level of 116.00.
Analysis: Presumably the formation of the downward impetus continues in the third wave of the senior level. At the moment it is likely that the fifth wave (v) of iii is being formed, within which one-two wave of the junior level i of (v) has been formed and the correction ii of (v) has completed. If this assumption is correct, the pair will continue to decline to 106.60. Critical level for this scenario is 113.84.
USD/СAD: Wave analysis and forecast for 01.04 – 08.04: The pair is likely to grow as part of the correction.
Estimated pivot point is at the level of 1.2850.
Our opinion: Buy the pair from correction above the level of 1.2850 with the target of 1.3290 – 1.37.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.2850 will enable the pair to continue decline to 1.2658 – 1.26.
Analysis: Presumably, the formation of the downward impetus has completed in the wave A. At the moment, it is likely that the “bearish” impetus of the junior level has completed in the fifth wave v of A and the pair is reversing towards correction. If this assumption is correct and the price does not break down the critical level of 1.2850, the pair can rise up to 1.3290 – 1.37.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
