Best Forex Brokers-Forex Wave analysis and forecast for 17.06 – 24.06.2016
EUR/USD: Wave analysis and forecast for 17.06 – 24.06: The pair is likely to decline.
Estimated pivot point is at the level of 1.1297.
Our opinion: Sell the pair from correction below the level of 1.1297 with the target of 1.0990 – 1.0940.
Alternative scenario: Breakout and consolidation of the price above the level of 1.1297 will allow the pair to continue the rise up to 1.1454.
Analysis: Presumably, downward correction of the senior level continues as the wave ii of 3 in the 4-hour timeframe. At the moment, it is likely that the upward correction has completed as the wave (b) of ii, and the wave (c) of ii is developing, within which the wave of the junior level (iii) of (c) is likely to develop. Critical level for this scenario is 1.1297.
GBP/USD: Wave analysis and forecast for 17.06 – 24.06: Downtrend continues.
Estimated pivot point is at the level of 1.4350.
Our opinion: Sell the pair from correction below the level of 1.4350 with the target of 1.39.
Alternative scenario: Breakout and consolidation of the price above the level of 1.4350 will trigger the rise in the pair up to the level of 1.4650.
Analysis: Presumably, the formation of the third wave of the senior level iii of 5 continues. Locally, it is likely that the upward correction (iv) of iii is nearing completion. If this assumption is correct, after the completion of the correction the pair may go down in the fifth wave (v) to the level of 1.39. Critical level for this scenario is 1.4350.
USD/CHF: Wave analysis and forecast for 17.06 – 24.06: The pair is undergoing correction.
Estimated pivot point is at the level of 0.9566.
Our opinion: In the short-term: buy the pair above the level of 0.9566 with the target of 0.9760. In the medium-term: wait for the completion of the correction and sell the pair with the target of 0.9320 – 0.9130.
Alternative scenario: Breakout and consolidation of the price below the level of 0.9566 will allow the pair to continue decline to 0.9320 – 0.9130 within the trend.
Analysis: Presumably, the formation of the third wave iii of the senior level continues. Currently, it seems that the first one-two wave (i) of the junior level has formed as an impetus and correction as the wave (ii) has begun. If this assumption is correct, after the completion of the correction, the pair will continue to decline to the levels of 0.9320 – 0.9130.
USD/JPY: Wave analysis and forecast for 17.06 – 24.06: Downtrend dominates.
Estimated pivot point is at the level of 106.33.
Our opinion: Sell the pair from correction below the level of 106.33 with the target of 100.60.
Alternative scenario: Breakout and consolidation of the price above the level of 106.33 will trigger the rise up to 109.00 – 110.00.
Analysis: Presumably, the formation of the long-term downtrend continues. It is assumed that within this trend the fifth wave is being developed. At the moment, it is likely that the third wave of the junior level (iii) of v is being formed. If this assumption is correct, the pair will continue to decline to 100.60. Critical level for this scenario is 106.33.
USD/CAD: Wave analysis and forecast for 17.06 – 24.06: Possibility of the rise in the pair remains.
Estimated pivot point is at the level of 1.2655.
Our opinion: Buy the pair from correction above the level of 1.2655 with the target of 1.3294.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.2655 will trigger further decline to 1.24 – 1.23.
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 с of B is being developed, within which one-two wave (i) has been formed. If this assumption is correct, after the completion of the correction (ii) the pair may continue to rise to the level of 1.3294 within the wave c of B. Critical level for this scenario is 1.2655.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
