Best Forex Brokers-Forex Wave analysis and forecast for 20.05 – 27.05.2016
EUR/USD: Wave analysis and forecast for 20.05 – 27.05: Downtrend continues.
Estimated pivot point is at the level of 1.1284.
Our opinion: Sell the pair from correction below the level of 1.1284 with the target of 1.1060.
Alternative scenario: Breakout and consolidation of the price above the level of 1.1284 will allow the pair to continue the rise up to 1.1350 – 1.1450 as part of correction in the wave (b).
Analysis: The decline in the pair continues and it is likely that the correction of the senior level is being formed as the wave ii of 3. Currently, the wave (a) of ii is being formed as an impetus within which the third wave is being developed. If this assumption is correct, the pair will continue to decline to 1.1060 – 1.0940. Critical level for this scenario is 1.1284.
GBP/USD: Wave analysis and forecast for 20.05 – 27.05: Correction is nearing completion. The pair is likely to decline.
Estimated pivot point is at the level of 1.4767.
Our opinion: Sell the pair from correction below the level of 1.4767 with the target of 1.4320 – 1.40.
Alternative scenario: Breakout and consolidation of the price above the level of 1.4767 will enable the pair to continue the rise up to the level of 1.50.
Analysis: Presumably, the formation of the upward correction is nearing completion as the second wave ii of 5, which had deepened and took a shape of an irregular plane. Locally, it seems that the upward impetus as the wave (c) of ii has been formed. If this assumption is correct, the pair will continue to decline in the third wave iii of 5 to the level of 1.40. Critical level for this scenario is 1.4767.
USD/CHF: Wave analysis and forecast for 20.05 – 27.05: Upward correction continues.
Estimated pivot point is at the level of 0.9760.
Our opinion: Buy the pair from correction above the level of 0.9760 with the target of 1.00.
Alternative scenario: Breakout and consolidation of the price below the level of 0.9760 will allow the pair to continue to decline to 0.96 – 0.95.
Analysis: Presumably, the formation of the upward correction continues as the second wave ii, which is taking a shape of a plane (a)(b)(c). Currently, it seems that the final wave (c) of ii is being developed, within which an impetus is being formed. If this assumption is correct, the pair will continue to rise to the level of 1.00. Critical level for this scenario is 0.9760.
USD/JPY: Wave analysis and forecast for 20.05 – 27.05: The pair is likely to decline within correction.
Estimated pivot point is at the level of 109.67.
Our opinion: In the short-term: sell the pair below the level of 109.67 with the target of 108.20. In the medium-term: wait for the completion of the correction and buy the pair above the level of 105.46 with the target of 112.50.
Alternative scenario: Breakout and consolidation of the price below the level of 105.46 will trigger the decline in the pair to the levels of 104.00 – 103.00 within the long-term downtrend.
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 (a) of iv is nearing completion. Within this wave an impetus seems to be formed. If this assumption is correct, after the completion of the local correction (b) the pair will continue to rise to 112.50 – 114.70. Critical level for this scenario is 105.46.
USD/CAD: Wave analysis and forecast for 20.05 – 27.05: Uptrend continues.
Estimated pivot point is at the level of 1.2966.
Our opinion: Buy the pair from correction above the level of 1.2966 with the target of 1.3294 – 1.3540.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.2966 will enable the pair to continue decline to 1.2750 – 1.2450.
Analysis: Presumably, the formation of the upward correction continues in the wave B of the senior level. At the moment, it seems that the first wave of the junior level a of B is being formed within which the third wave (iii) of a is being developed. If this assumption is correct, the pair will continue to rise up to 1.3294 – 1.3540. Critical level for this scenario is 1.2966.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
