BEST FOREX BROKERS – forex wave analysis and forecast for 06.11 – 13.11.2015
EUR/USD Wave analysis and forecast for 06.11 – 13.11: The pair is undergoing correction.
Estimated pivot point is at a level of 1.1080.
Our opinion: Buy the pair on the pullbacks after breakdown of the level of 1.1080 with the target of 1.15.
Alternative scenario: The pair may continue to decline to the levels of 1.07 – 1.06 in the wave y of 2.
Analysis: The pair continued to decline hitting the new local low of 1.0890. Presumably, the correction as the second wave 2 of the senior level continues moving from the plane abc to the double zigzag in the wave y of 2. If this assumption is correct after its completion the pair can start to grow to 1.15. Critical level for this scenario is 1.0450.
GBP/USD Wave analysis and forecast for 06.11 – 13.11: The pair is undergoing correction. The rise in the pair is possible.
Estimated pivot point is at a level of 1.5100.
Our opinion: Buy the pair from correction above the level 1.5100 with the target of 1.56 – 1.58.
Alternative scenario: Breakout and consolidation of the price below the level of 1.5100 will enable the pair to continue decline to 1.50 – 1.4950.
Analysis: Presumably, the pair is developing the wave С of 2 of the senior level on the daily timeframe. Locally, it seems that the formation of the downward correction continues as the wave ii of C, which is nearing completion. If this assumption is correct, in the near future the pair will continue to rise to the levels of 1.57 – 1.58 in the third wave. Critical level for this scenario is 1.5100.
USD/CHF Wave analysis and forecast for 06.11 – 13.11: Uptrend is descending. In the medium-term the pair is likely to decline.
Estimated pivot point is at a level of 0.9830.
Our opinion: Sell the pair after breakdown and consolidation below the level of 0.9830 with the target of 0.95 – 0.94.
Alternative scenario: Breakout and consolidation of the price below the level of 0.9830 will enable the pair to go further down up to 0.95 – 0.94.
Analysis: Presumably, upward correction is nearing completion in the wave B, which has a shape of a double zigzag wxy. Locally, it is likely that the “bullish” impetus in the wave (с) of y of B is also nearing completion. If this assumption is correct, after breaking down the level of 0.9830, the pair will start to decline in the wave С оf 2.
USD/JPY Wave analysis and forecast for 06.11 – 13.11: Uptrend can continue in the short-term.
Estimated pivot point is at a level of 120.21.
Our opinion: Buy the pair from correction above the level of 120.21 with the target of 123.25. In case of breakdown of the level of 120.21, sell the pair with the target of 117.00 – 116.00.
Alternative scenario: Breakout and consolidation of the price below the level of 120.21 will enable the pair to continue decline to the levels of 117.00 – 116.00.
Analysis: Presumably, the formation of the upward correction as the wave B continues within the fourth wave (4). At the moment, it seems that the final wave (c) of y of B is being formed. If this assumption is correct, the pair will continue to rise up to 123.25. Critical level for this scenario is 120.21.
USD/СAD Wave analysis and forecast for 06.11 – 13.11: The pair is likely to decline.
Estimated pivot point is at a level of 1.3279.
Our opinion: Sell the pair from correction below the level of 1.3279 with the target of 1.2710.
Alternative scenario: Breakout and consolidation of the price above the level of 1.3279 will trigger the rise in the pair to 1.34 – 1.3460.
Analysis: The wave А of 4 continues to develop and within this wave the wave b of A seems to be completed. At the moment it is assumed that the wave c of A started its development and within this wave the bearish impetus can to develop up to the level of 1.27. Critical level for this scenario is 1.3279. Breakdown of this level will trigger the rise in the pair to the levels of 1.34 – 1.3460 in the wave b of A.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
