Best Forex Brokers:Forex Wave analysis and forecast of 16.05 – 23.05.2014

Best Forex Brokers:Forex Wave analysis and forecast of 16.05 – 23.05.2014

Keywords:Forex Analysis,Forex Trading Strategy,Forex Strategy,Wave Analysis,Forecast

EUR/USD: Wave analysis and forex forecast of 16.05 – 23.05: The pair is likely to decline. Estimated pivot point is at the level of 1.3993.

Our opinion: In the short-term: buy the pair above the level of 1.3645 with the target of 1.3820. In the medium-term: wait for the completion of the correction and sell below the level of 1.3993 with the target of 1.35 – 1.3477.

Alternative scenario: Breakout of the level of 1.3993 will enable the price to continue growth to the level of 1.41.

Analysis: Presumably, the formation of the in-lead momentum as the first wave has completed. Locally, the pair may experience upward correction in the second wave to the levels of 50% – 1.3820. If this assumption is correct, following the completion of the local correction, the pair will continue to decline to the levels of 1.35 – 1.3470. Critical level for this scenario is 1.3993.
EURUSD H4

EURUSD Dayli

GBP/USD Wave analysis and forecast for 16.05 – 23.05: The pair is likely to decline. Estimated pivot point is at the level of 1.6902.

Our opinion: Sell the pair from correction below the level of 1.6902 with the target of 1.67 – 1.6650.

Alternative scenario: Breakout and consolidation above the level of 1.6902 will enable the price to continue growth up to the level of 1.70.

Analysis: Presumably, the formation of the fifth final wave of the upward zigzag has completed within the daily timeframe. Locally, it is not excluded that the “bearish” momentum as the first in-lead wave is being formed. If this assumption is correct, the pair will continue to decline to the level of 1.67 – 1.6650 in the fifth wave.
GPBUSD H4

GPBUSD Dayli

USD/CHF Wave analysis and forecast for 16.05 – 23.05: The pair is likely to grow. Estimated pivot point is at the level of 0.8700.

Our opinion: Buy the pair from correction above the level of 0.8700 with the target of 0.91 – 0.92.

Alternative scenario: Breakout of the level of 0.8700 will allow the pair to continue decline.

Analysis: Presumably, the formation of the fifth wave, which took a shape of a diagonal triangle within the daily timeframe, has completed. Locally, it is likely that the pair has formed reversal and the first in-lead upward wave. If this assumption is correct, and correction in the second wave does not break down critical level of 0.87, it makes sense to expect that growth will continue up to 0.91 – 092.
USDCHF H4

USDCHF Daily

USD/JPY Wave analysis and forecast for 16.05 – 23.05: The pair is likely to decline. Estimated pivot point is at the level of 102.09.

Our opinion: Sell the pair below the level of 102.09 with the target of 100.0 – 99.0.

Alternative scenario: Breakout of the level of 102.09 will enable the rise in the pair up to the levels of 104.0 – 105.0.

Analysis: Presumably, the formation of the third wave in the wave C of the senior level continues. Locally, the third wave of the junior level is being formed and it this assumption is correct, it makes sense to expect that the decline in price will continue up to the levels of 100.0 – 99.0.
USDJPY H4

USDCHF Daily

USD/CAD Wave analysis and forecast for 16.05 – 23.05: The decline in the pair is likely to continue. Estimated pivot point is at the level of 1.0926.

Our opinion: Sell the pair below the level of 1.0926 with the target of 1.0730. In case of breakdown of the level of 1.0926, buy the pair with the target of 1.12.

Alternative scenario: Breakout of the level of 1.0926 will enable the pair to continue growth to the level of 1.12.

Analysis: Presumably, the formation of the downward correction in the wave с of 4 continues. Locally, downward momentum is being formed, within which the fourth wave has probably completed and the final, the fifth wave is being formed. . If this assumption is correct, and the price does not break down critical level of 1.0926, the pair will continue to decline to the level of 1.0730.
USDCAD H4

USDCHF Daily

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