Best Forex Brokers:Forex Wave analysis and forecast of 15.08 – 22.08.2014
EUR/USD Wave analysis and forecast of 15.08 – 22.08: The pair is undergoing correction. Downtrend continues.
Estimated pivot point is at the level of 1.3330.
Our opinion: In the short-term: buy the pair from correction above the level of 1.3330 with the targets of 1.3450 – 1.3470. In the medium-term: wait for the completion of the fourth wave.
Alternative scenario: Breakout and consolidation below of the level of 1.3330 will make the price go down to the levels of 1.33 – 1.3250 in the extension of the third wave.
Analysis: Presumably, the formation the third wave (iii) of the bearish momentum has completed. Locally, the fourth wave is being formed (iv). If this assumption is correct, after the completion of the fourth wave the pair will continue to decline to the level of 1.32 in the final fifth wave (v).
GBP/USD Wave analysis and forecast of 15.08 – 22.08: Downtrend continues.
Estimated pivot point is at the level of 1.6845.
Our opinion: Sell the pair from correction below the level of 1.6845 with the target of 1.66 – 1.65.
Alternative scenario: Breakout and consolidation above the level of 1.6845 will make the price continue the rise to the level of 1.70 as part of the deep correction.
Analysis: Presumably, the formation of the downward impetus the first wave of the deep medium-term correction continues. It is likely that the third wave is being formed. If this assumption is correct, and the price does not break down the critical level of 1.6845, the pair will continue to decline to the levels of 1.66 – 1.65.
USD/CHF Wave analysis and forecast of 15.08 – 22.08: Uptrend dominates.
Estimated pivot point is at the level of 0.9030.
Our opinion: Buy the pair from the correction above the level of 0.9030 with the target of 0.9180 – 0.92.
Alternative scenario: Breakout and consolidation below of the level of 0.9030 will enable continuation of decline to the levels of 0.90 – 0.8950.
Analysis: Presumably, the formation of the upward momentum in the third wave (iii) has completed. Locally, the “bearish” correction in the fourth wave (iv) is nearing completion. If this assumption is correct after the completion of the correction the pair will continue to rise in the fifth wave to the levels of 0.9180 – 0.92.
USD/JPY Wave analysis and forecast of 15.08 – 22.08: The pair is likely to grow.
Estimated pivot point is at the level of 101.49.
Our opinion: Buy the pair from correction above the level of 101.49 with the target of 104.10.
Alternative scenario: Breakout of the level of 101.49 will permit the pair continue the decline to 99.50.
Analysis: On the daily timeframe it is not excluded that the formation of the horizontal correction as the wave (B) is ongoing. At the moment it is likely that the wave (C) is being formed, within which diagonal triangle can be formed. Locally, it is likely that the wave iv of (C) has completed and the final fifth wave has begun. If this assumption is correct, and the price does not break down the critical level of 101.49, the pair will continue the rise up to the level of 104.10.
USD/СAD Wave analysis and forecast of 15.08 – 22.08: The pair is likely to grow.
Estimated pivot point is at the level of 1.0880.
Our opinion: Buy the pair from correction above the level of 1.0880 with the target of 1.10 – 1.1050.
Alternative scenario: Breakout and consolidation below of the level of 1.0880 will make it possible for the price continue the decline to the level of 1.08.
Analysis: Presumably, the formation of the ascending momentum in the third wave (iii) has completed. Locally, the correction in the fourth wave (iv) is nearing completion. If this assumption is correct, the pair is likely to continue the rise in the fifth wave to the levels of 1.10 – 1.1050.
