Best Forex Brokers-Forex Wave analysis and forecast for 24.06 – 01.07.2016
EUR/USD: Wave analysis and forecast for 24.06 – 01.07: The pair is likely to grow.
Estimated pivot point is at the level of 1.09.
Our opinion: Buy the pair from correction above the level of 1.09 with the target of 1.1164 – 1.1230.
Alternative scenario: Breakout and consolidation of the price below the level of 1.09 will trigger the decline in the pair to 1.08 – 1.07.
Analysis: Presumably, downward correction of the senior level continues as the wave ii of 3 has completed in the 4-hour timeframe. At the moment, it is likely that the wave (c) of ii has formed as an impetus. If this assumption is correct, the pair can go up to 1.1164 – 1.1230, or higher.
GBP/USD: Wave analysis and forecast for 24.06 – 01.07: Downtrend continues.
Estimated pivot point is at the level of 1.3307.
Our opinion: Buy the pair from correction above the level of 1.3307 with the target of 1.4160 – 1.4350.
Alternative scenario: Breakout and consolidation of the price below the level of 1.3307 will trigger the decline in the pair to the level of 1.31 – 1.30.
Analysis: Presumably, the formation of the upward wave of the senior level (4) has completed. Locally it is likely that the fifth wave (5) is being developed, within which the first wave 1 of (5) has completed. If this assumption is correct, in the short-term upward correction can reach 1.4160 – 1.4350 in the wave 2 of (5) and after than the pair will continue to decline. In case of breakout of the level of 1.5026, downtrend will cease.
USD/CHF: Wave analysis and forecast for 24.06 – 01.07: Correction is nearing completion. The pair is likely to decline.
Estimated pivot point is at the level of 0.9953.
Our opinion: Sell the pair from correction below the level of 0.9953 with the target of 0.9510 – 0.93.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9953 will boost the price up to 1.0 – 1.0100.
Analysis: Presumably, the formation of the third wave iii of the senior level continues. Currently, it seems that upward correction as the wave (ii) is nearing completion. If this assumption is correct, after the completion of the correction, the pair will continue to decline to the levels 0.9510 – 0.93.
USD/JPY: Wave analysis and forecast for 24.06 – 01.07: Downtrend dominates.
Estimated pivot point is at the level of 106.76.
Our opinion: Sell the pair from correction below the level of 106.76 with the target of 94.97.
Alternative scenario: Breakout and consolidation of the price above the level of 106.76 will trigger further rise up to 108.50 – 110.00.
Analysis: Presumably, the formation of the long-term downtrend continues, within which the fifth wave is being developed. At the moment, it is likely that the third wave of the junior level (iii) of v has formed and the local correction is being developed as the fourth wave (iv). If this assumption is correct, after the completion of the correction the pair will continue to decline to 94.97. Critical level for this scenario is 106.76.
USD/CAD: Wave analysis and forecast for 24.06 – 01.07: The pair is likely to grow.
Estimated pivot point is at the level of 1.2810.
Our opinion: Buy the pair from correction above the level of 1.2810 with the target of 1.3294.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.2810 will trigger further decline to 1.26 – 1.25.
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 the third wave is being formed (iii). If this assumption is correct, the pair may continue to rise in the wave c of B up to the levels of 1.3294 – 1.35. level for this scenario is 1.2810.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
