Best Forex Brokers-Forex Wave analysis and forecast for 27.05 – 03.06.2016
EUR/USD: Wave analysis and forecast for 27.05 – 03.06: Downtrend continues.
Estimated pivot point is at the level of 1.1247.
Our opinion: Sell the pair from correction below the level of 1.1247 with the target of 1.1060.
Alternative scenario: Breakout and consolidation of the price above the level of 1.1247 will allow the pair to continue the rise up to 1.1350 – 1.1375 as part of correction.
Analysis: Presumably, downward correction of the senior level is being developed, within which the bearish impetus is being formed, as the wave (a) of ii. At the moment, it is likely that the local correction is nearing completion as the fourth wave of the junior level iv of (a). If this assumption is correct, after the completion of the local correction the pair will continue to decline to 1.1060. Critical level for this scenario is 1.1247.
GBP/USD: Wave analysis and forecast for 27.05 – 03.06: The pair is likely to decline.
Estimated pivot point is at the level of 1.4738.
Our opinion: Sell the pair from correction below the level of 1.4738 with the target of 1.4320 – 1.40.
Alternative scenario: Breakout and consolidation of the price above the level of 1.4738 will enable the pair to continue the rise up to the level of 1.50.
Analysis: Presumably, the formation of the upward correction has completed as the second wave ii of 5, which has deepened and taking a shape of irregular plane. Locally, it seems that the pair is going to reverse. If this assumption is correct, the price will continue to decline in the third wave iii of 5 to the levels of 1.4320 – 1.40. Critical level for this scenario is 1.4738.
USD/CHF: Wave analysis and forecast for 27.05 – 03.06: The pair is likely to grow.
Estimated pivot point is at the level of 0.9762.
Our opinion: Buy the pair from correction above the level of 0.9762 or after breakout of the level of with the target of 1.0070.
Alternative scenario: Breakout and consolidation of the price below the level of 0.9762 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 wave (c) of ii is being developed as an impetus, within which the third wave iii of (c) seems to develop, as well as the local correction as the fourth wave. If this assumption is correct, after the completion of the correction, the pair will continue to rise up to 1.00 – 1.0075. Critical level for this scenario is 0.9762.
USD/JPY: Wave analysis and forecast for 27.05 – 03.06: The pair is likely to decline within correction.
Estimated pivot point is at the level of 110.57.
Our opinion: Sell the pair from correction below the level of 110.57 with the target of 108.90 – 108.00. In case of breakout of the level of 110.57, buy with the target of 112.50.
Alternative scenario: Breakout and consolidation of the price above the level of 110.57 will trigger the rise up to 112.50.
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 has completed. In this wave, the impetus has been formed and the local correction is being developed as the wave (b), which seems to take a shape of a plane. If this assumption is correct, the pair will continue to decline to 108.90 – 108.00.Critical level for this scenario is 110.57. Breakout of this level will trigger the rise in the pair up to 112.50.
USD/CAD: Wave analysis and forecast for 27.05 – 03.06: Uptrend continues.
Estimated pivot point is at the level of 1.2767.
Our opinion: Buy the pair from correction above the level of 1.2767 with the target of 1.3294.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.2767 will trigger further decline to 1.25 – 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 first wave of the junior level a of B is being formed as a diagonal, within which the fourth wave (iv) of a is nearing completion. f this assumption is correct, the pair will continue to rise up to 1.3294. Critical level for this scenario is 1.2767.
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