Best Forex Brokers:Forex Wave analysis and forecast of 10.07 – 18.07.2014
EUR/USD: Wave analysis and forecast of 10.07 – 18.07: The pair is likely to decline. Estimated pivot point is at the level of 1.3700.
Our opinion: Sell the pair from correction below the level of 1.3700 with the target of 1.34 – 1.33.
Alternative scenario: Breakout of the level of 1.3700 will allow the price to continue the growth up to the levels of 1.3750 – 1.38.
Analysis: Presumably, the formation of the local correction in the second wave (ii), which took shape of the irregular plane, has completed. Locally, the small, in-lead impetus has been formed, while minor “bullish” correction is nearing completion. Critical level for this scenario is 1.3700. If this level is broken down, the pair will continue to rise, while the correction in the second wave of the senior level will reach the marks of 1.3750 – 1.38.
GBP/USD Wave analysis and forecast for 10.07 – 18.07: The pair is likely to decline. Estimated pivot point is at the level of 1.7180.
Our opinion: Sell the pair below the level of 1.7083 with the target of 1.69 – 1.68.
Alternative scenario: Breakout and consolidation above the level of1.7180 will enable the price to continue the rise up to the level of 1.73.
Analysis: Presumably, the formation of the ascending momentum in the fifth final wave of the senior level has completed. At the moment it is possible that the price is forming the reversal and small in-lead downward waves. If this assumption is correct, and the price does not break down the critical level of 1.7180, the pair will go down to the levels of 1.70 – 1.69. Otherwise, the price will go up to the level of 1.73 and the pattern of the fifth wave will extend.
USD/CHF Wave analysis and forecast for 10.07 – 18.07: The pair is likely to go up. Estimated pivot point is at the level of 0.8854.
Our opinion: Buy the pair from the correction above the level of 0.8854 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8854 will enable the pair to continue the decline to the levels of 0.88 – 0.8750.
Analysis: Presumably, the formation of the local correction as the second wave has completed. Locally, small in-lead momentum has been formed, as well as minor bearish correction. If this assumption is correct and the price does not break down critical level of 0.8854, the pair will continue to rise in the third wave. Breakdown of the critical level will lead to the further decline in price and enhancement of the correction of the senior level up to the levels of 0.88 – 0.8750.
USD/JPY Wave analysis and forecast for 10.07 – 18.07: The pair is likely to grow.
Estimated pivot point is at the level of 101.20.
Our opinion: Sell the pair from correction above the level of 101.20 with the target 103.00.
Alternative scenario: Breakout of the level of 101.20 will allow the price to continue the decline to the level of 100.50.
Analysis: Within the daily timeframe it is not excluded that horizontal correction as the wave (B) is being formed, which may take a shape of a triangle. At the moment it is likely that the wave C, as the double zigzag, is being formed. Locally, it seems that the third wave of a zigzag (c) is being developed. If this assumption is correct the pair will continue to rise to the level of 103.00. Critical level for this scenario is 101.20.
USD/CAD Wave analysis and forecast for 10.07 – 18.07: The pair is likely to grow. Estimated pivot point is at the level of 1.0616.
Our opinion: Buy the pair above the level of 1.0616 with the target of 1.09 – 1.10.
Alternative scenario: Breakout of the level of 1.0616 will enable the decline in the pair up to the level of 1.0550.
Analysis: Presumably, the formation of the downward correction in the fourth wave has completed. Locally, it is likely that the formation of the first in-lead wave has completed. If this assumption is correct, the pair will continue to rise not breaking down the critical level of 1.0616. Otherwise, the pair will continue to decline to the level of 1.0550 as the extension of wave с of 4.
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