Best Forex Brokers:Forex Wave analysis and forecast of 13.06 – 20.06.2014
EUR/USD: Wave analysis and forecast of 13.06 – 20.06: Euro is under pressure, downtrend prevails. Estimated pivot point is at the level of 1.3680.
Our opinion: Sell the pair from correction below the level of 1.3680 with the target of 1.34 – 1.33.
Alternative scenario: Breakout of the level of 1.3680 will allow the price to continue growth to the levels of 1.38 – 1.3850.
Analysis: Presumably, the formation of the local correction in the second wave, which took shape of the irregular plain, has completed. Locally, the in-lead wave i of (iii) has been formed, as well as the small correction in the second wave ii of (iii). If this assumption is correct, following the completion of the correction the pair will continue to decline in the third wave iii of (iii).
GBP/USD Wave analysis and forecast for 13.06 – 20.06: Uptrend in the pair will continue. Estimated pivot point is at the level of 1.6850.
Our opinion: Buy the pair from correction above the level of 1.6850 with the target of 1.71.
Alternative scenario: Breakout and consolidation below the level of 1.6850 will enable the price to continue the decline to the level of 1.67 – 1.66.
Analysis: The price has broken down the critical level, proposed in the previous scenario of the decline in the pair and continued to form the uptrend. It is likely that on the daily timeframe the diagonal will formed in the fifth wave and locally the fifth final wave of the long-term uptrend is being developed. If this assumption is correct, in the short-term the pair will continue to grow to the upper line of the diagonal at 1.71. Critical level for this scenario is 1.648.
USD/CHF Wave analysis and forecast for 13.06 – 20.06: The pair is undergoing correction. A chance of the rise in the pair is preserved. Estimated pivot point is at the level of 0.8906.
Our opinion: Buy the pair above the level of 0.8906 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8906 will allow the pair to continue the decline to the levels of 0.88 – 0.87.
Analysis: Presumably, the formation of ascending trend continues, within which the third wave will be developed. Locally, downward correction is being formed as the second wave (ii) of iii. If this assumption is correct, following the completion of the correction, it makes sense to expect that the pair will continue to grow up to the levels of 0.91 – 092. Critical level for this scenario is the level of 0.8906.
USD/JPY Wave analysis and forecast for 13.06 – 20.06: The pair is likely to decline. Estimated pivot point is at the level of 102.79.
Our opinion: Sell the pair below the level of 102.79 with the target of 100.0.
Alternative scenario: Breakout of the level of 102.79 will allow the price to continue growth to the level of 104.0.
Analysis: Presumably, the formation of the final wave of the zigzag АВС is still ongoing on the daily timeframe. Locally, the fifth wave is being formed, within which the wave (a) of the zigzag has completed. If this assumption is correct, following the completion of the local correction (b) of V, the pair will continue to decline to the level of 100.0. Critical level for this scenario is 102.79.
USD/CAD Wave analysis and forecast for 13.06 – 20.06: The pair is likely to grow. Estimated pivot point is at the level of 1.0819.
Our opinion: Buy the pair above the level of 1.0819 with the target of 1.0980 – 1.1070.
Alternative scenario: Breakout of the level of 1.0819 will allow the pair to continue the decline to the level of 1.0720.
Analysis: Presumably, the formation of the downward correction in the fourth wave с of 4 has completed. Locally, the in-lead wave as the impetus has been formed and the “bearish” correction in the wave (ii) is nearing completion. If this assumption is correct, and the price does not break down the critical level of 1.0819, it makes sense to expect that the growth in the pair will continue up to the levels of 1.0980 – 1.1070 in the third wave.
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