best forex brokers – forex wave analysis and forecast for 05.02 – 12.02.2016

best forex brokers – forex wave analysis and forecast for 05.02 – 12.02.2016

EUR/USD: Wave analysis and forecast for 05.02 – 12.02: Uptrend continues.

Estimated pivot point is at the level of 1.1066.

Our opinion: Buy the pair from correction above the level of 1.1066 with the target of 1.1350 – 1.1500.

Alternative scenario: Breakout and consolidation of the price below the level of 1.1066 will allow the pair to continue decline to 1.0806.

Analysis: Presumably, the formation of the third wave 3 of the senior level continues. Locally, it seems that the momentum in the third wave (iii) is being developed. If this assumption is correct, the pair can continue to rise up to 1.1350 – 1.1500. Critical level for this scenario is 1.1066. Breakdown of this level will trigger decline in the pair to 1.0940 – 1.0806.

EURUSD H4

EURUSD Daily

GBP/USD: Wave analysis and forecast for 05.02 – 12.02: The pair is undergoing correction; probability of decline in the pair remains.

Estimated pivot point is at the level of 1.4888.

Our opinion: Sell the pair below the level of 1.4888 with the target of 1.3950 – 1.3750.

Alternative scenario: Breakout and consolidation of the price above the level of 1.4888 will enable the pair to continue the rise to the level of 1.55.

Analysis: The formation of the downtrend continues in the third wave of the senior level iii of 3. At the moment, it seems that the fourth wave iv of 3 is close to completion. If this assumption is correct, after its completion the pair will continue to decline to 1.4070 – 1.3950. Critical level for this scenario is 1.4888. Breakdown of this level can stop the development of the “bearish” trend.

GPBUSD H4

GPBUSD Daily

USD/CHF: Wave analysis and forecast for 05.02 – 12.02: Downtrend prevails.

Estimated pivot point is at the level of 1.0255.

Our opinion: Sell the pair from correction below the level of 1.0255 with the target of 0.9470.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0323 will allow the pair to continue the rise up to the levels of 1.04 – 1.05.

Analysis: The formation of the upward correction has completed as the wave ii of С, within which a double zigzag (w)(x)(y) has been formed. Locally, it seems that the third wave iii of C is being formed, within which one-two first wave of the junior level has developed (i). If this assumption is correct, after the completion of the local correction (ii) the pair will continue to decline to 0.95. Critical level for this scenario is 1.0255.

USDCHF H1

USDCHF H4

USD/JPY: Wave analysis and forecast for 05.02 – 12.02: The pair is likely to rise.

Estimated pivot point is at the level of 115.95.

Our opinion: Buy the pair from correction above the level of 115.95 with the target of 121.70 – 124.50 or above.

Alternative scenario: Breakout and consolidation of the price below the level of 115.95 will allow the pair to continue decline to the levels of 114.90 – 114.00.

Analysis: The formation of the wave С of 4 as the large correction has completed. At the moment it is likely that one-two impetus of the junior level as the first wave i of 1 has been formed. Locally, the correction as the second wave is nearing completion. If this assumption is correct, the pair will continue to rise up to 121.70 – 124.50. Critical level for this scenario is 115.95.

USDJPY H4

USDJPY Daily

USD/СAD: Wave analysis and forecast for 05.02 – 12.02: Rise as part of correction.

Estimated pivot point is at the level of 1.3765.

Our opinion: Buy the pair after consolidation above the level of 1.3765 with the target of 1.41 – 1.4270.

Alternative scenario: Decline can continue up to 1.3280.

Analysis: Presumably, the formation of the downward zigzag has completed in the emerging large “bearish” correction. Locally, it seems that the development of the wave (c) has completed. If this assumption is correct, upward correction in the pair can continue up to 1.41 – 1.4270. As an alternative scenario it is possible that the pair will continue to decline and the wave (c) extension will reach the level of 1.3280.

USDCAD H1

USDCAD H4

The analytical materials are provided by
Aleksander Geuta,
a trader and analyst of LiteForex

Best Forex Brokers

http://www.topforexbrokerscomparison.com

. Top Forex Brokers

Top Forex Brokers. Find the Best Forex Brokers.Choose the Top Forex Brokers. Share the latest forex information about top forex brokers. More detail about forex bonus,and maximize your bonus profit. https://www.topforexbrokerscomparison.com

Related Posts

Top Forex Brokers – Forex Weekly news and analysis For January 13 – 19, 2025

Top Forex Brokers – Forex Weekly news and analysis For January 13 – 19, 2025 The US CPI Inflation continues to shape market sentiment, with November’s CPI rising 0.3% month-over-month and…

Top Forex Brokers – Forex Weekly news and analysis For January 6 – 12, 2025

Top Forex Brokers – Forex Weekly news and analysis For January 6 – 12, 2025 The US NFP Report The US added 227K jobs in November, surpassing the 200K forecast and…

You Missed

Top Forex Brokers – Forex Weekly news and analysis For January 13 – 19, 2025

Top Forex Brokers – Forex Weekly news and analysis For January 13 – 19, 2025

20 Guiding Principles for Success In Forex Trading

20 Guiding Principles for Success In Forex Trading

Top Forex Brokers – Forex Weekly news and analysis For January 6 – 12, 2025

Top Forex Brokers – Forex Weekly news and analysis For January 6 – 12, 2025

Top Forex Brokers – Forex Weekly news and analysis For December 30 – January 5, 2025

Top Forex Brokers – Forex Weekly news and analysis For December 30 – January 5, 2025

Top Forex Brokers – Forex Weekly news and analysis For December 23 – 29, 2024

Top Forex Brokers – Forex Weekly news and analysis For December 23 – 29, 2024

Top Forex Brokers – Forex Weekly news and analysis For December 16 – 22, 2024

Top Forex Brokers – Forex Weekly news and analysis For December 16 – 22, 2024