Best Forex Brokers-Forex Wave analysis and forecast for 10.06 – 17.06.2016
EUR/USD: Wave analysis and forecast for 10.06 – 17.06: The pair is probably to decline.
Estimated pivot point is at the level of 1.1411.
Our opinion: Sell the pair from correction below the level of 1.1411 with the target of 1.0990 – 1.0940.
Alternative scenario: Breakout and consolidation of the price above the level of 1.1411 will allow the pair to continue the rise up to 1.15 – 1.16.
Analysis: Presumably, the formation of the downward correction of the senior level as the wave ii of 3 continues within the 4 hour timeframe. Currently, it seems that the formation of the upward correction as the wave (b) of ii has completed. If this assumption is correct, the pair has started to decline to 1.0990 – 1.0940 within the wave (c) of ii. Critical level for the main scenario is 1.1411.
GBP/USD: Wave analysis and forecast for 10.06 – 17.06: The pair is probably to decline.
Estimated pivot point is at the level of 1.4660.
Our opinion: Sell the pair from correction below the level of 1.4660 with the target of 1.40.
Alternative scenario: Breakout and consolidation of the price above the level of 1.4660 will allow the pair to continue to rise up to 1.50.
Analysis: Presumably, the formation of the third wave of the senior level iii of 5 continues. Locally, it seems that the upward correction (ii) of iii completed. If this assumption is correct, the pair has started to decline within the third wave (iii) to the level of 1.40. Critical level for this scenario is 1.4660.
USD/CHF: Wave analysis and forecast for 10.06 – 17.06: The pair is likely to decline.
Estimated pivot point is at the level of 0.9659.
Our opinion: Sell the pair below the level of 0.9659 with the target of 0.9509.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9659 will allow the pair to continue to rise up to 0.9785.
Analysis: Presumably, the formation of the upward correction completed as the second wave ii, which took a shape of a plane (a)(b)(c). Currently, it seems that the third wave of the senior level started to develop, within which the first one-two wave (i) of the junior level seems to form as an impetus. If this assumption is correct, the pair will continue to decline to the level of 0.9509. Critical level for this scenario is 0.9659.
USD/JPY: Wave analysis and forecast for 10.06 – 17.06: The pair is likely to rise up.
Estimated pivot point is at the level of 106.20.
Our opinion: Buy the pair from correction above the level of 106.20 with the target of 111.40.
Alternative scenario: Breakout and consolidation of the price below the level of 105.46 will permit the pair to continue the decline to the levels of 105.46 – 105.00.
Analysis: Presumably, the formation of the upward correction as the fourth wave of the senior level continues. At the moment, it is likely that the formation of the wave (b) of iv has completed, within which an irregular plane has formed. If this assumption is correct, the pair will continue to rise to the level of 111.40 within the wave (c) of iv. Critical level for this scenario is 106.20.
USD/CAD: Wave analysis and forecast for 10.06 – 17.06: The pair is likely to rise up.
Estimated pivot point is at the level of 1.2458.
Our opinion: Buy the pair from correction above the level of 1.2646 with the target of 1.3294.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.2646 will enable the pair to continue decline to 1.2458 – 1.24.
Analysis: Presumably, the formation of the upward correction continues in the wave B of the senior level. At the moment, it seems that the wave b of B is finishing, within which the zigzag (a)(b)(c) has been formed. If this assumption is correct, the pair will continue to rise up within the wave c of B to 1.3294.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
