best forex brokers – forex wave analysis and forecast for 08.01 – 15.01.2016
EUR/USD Wave analysis and forecast for 08.01 – 15.01: In the medium-term the pair is likely to grow.
Estimated pivot point is at a level of 1.0707.
Our opinion: Buy the pair from correction above the level of 1.0707 with the target of 1.1280 – 1.1620.
Alternative scenario: Breakout and consolidation of the price below the level of 1.0707 will allow the pair to continue to decline to 1.06 – 1.05.
Analysis: Presumably, the formation of the local correction as the second wave ii of 3 has completed. Locally, it seems that the one-two wave (i) of iii is being formed as a momentum. If this assumption is correct, it makes sense to expect that the pair will continue to rise up to 1.1280 – 1.1620. Critical level for this scenario is 1.0707.
GBP/USD Wave analysis and forecast for 08.01 – 15.01: The pair is likely to rise.
Estimated pivot point is at a level of 1.4520.
Our opinion: Buy the pair above the level of 1.4520 with the target of 1.4950 – 1.52.
Alternative scenario: Breakout and consolidation of the price below the level of 1.4520 will enable the pair to continue decline to the levels of 1.4450 – 1.44.
Analysis: Presumably, the formation of the “bearish” correction as the wave B of the senior level has completed. At the moment, it is possible that the formation of the zigzag abc in the final fifth wave (v) of the diagonal has completed in the wave C of B. If this assumption is correct and the price does not break down the critical level of 1.4530, the pair can rise to the level of 1.4942 or higher up.
USD/CHF Wave analysis and forecast for 08.01 – 15.01: Downtrend continues.
Estimated pivot point is at a level of 1.0122.
Our opinion: Sell the pair from correction below the level of 1.0122 with the target of 0.9470.
Alternative scenario: Breakout and consolidation of the price above the level of 1.0122 will allow the pair to continue to rise to the level of 1.0360 – 1.05.
Analysis: Presumably, the wave C of 2 of the senior level continues to develop. Locally, it is likely that the formation of the upward correction ii has completed and the third wave iii of C started to develop with the target level of 0.9470. If this assumption is correct and the price does not break down the critical level of 1.0122, the pair is likely to decline.
USD/JPY Wave analysis and forecast for 08.01 – 15.01: Downtrend continues.
Estimated pivot point is at a level of 120.13.
Our opinion: Sell the pair from correction below the level of 120.13 with the target of 116.00 – 115.00.
Alternative scenario: Breakout and consolidation of the price above the level of 120.13 will enable the pair to continue the rise up to the levels of 123.00 – 124.00.
Analysis: The formation of the wave С of 4 of the senior level continues. Within this wave the impetus is likely to develop. At the moment it seems that the third wave of the impetus iii of C is being formed. If this assumption is correct, the pair will continue to rise up to 116.00 – 115.00. Critical level for this scenario is 120.13.
USD/СAD Wave analysis and forecast for 08.01 – 15.01: Uptrend continues.
Estimated pivot point is at a level of 1.3809.
Our opinion: Buy the pair from correction above the level of 1.3809 with the target of 1.42 – 1.45. In case of breakdown of the level of 1.3809, sell with the target of 1.34 – 1.33.
Alternative scenario: Breakout and consolidation of the price below the level of 1.3809 3670 will enable the pair to continue to decline to the levels of 1.34 – 1.33.
Analysis: The formation of the upward momentum continues in the fifth wave of the senior level 5 of (3) on the daily timeframe. Locally, it is likely that the fifth wave of the junior level (v) is being formed. If this assumption is correct, the pair will continue to rise up to 1.4208, or above. Critical level for this scenario is 1.3809. Breakdown of this level will trigger to decline in the pair to 1.34 – 1.33.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
