Best Forex Brokers:Wave analysis and forecast of 18.04 – 25.04.2014
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EUR/USD: Wave analysis and forecast of 18.04 – 25.04: The pair is experiencing correction; the rise in the pair is likely to continue. Estimated pivot point is at the level of 1.3864.
Our opinion: In the short-term: sell the pair below the level of 1.3864 with the target of 1.3760. In the medium-term: wait for the completion of correction and buy the pair after the reversal above the level 1.3760 with the target of 1.3990 – 1.40.
Alternative scenario: Breakout of the level of 1.3864 will enable the price to continue growth to the level of 1.3990 – 1.40.
Analysis: Presumably, the zigzag (a)(b)(c) is being formed in the final fifth wave of a diagonal triangle, which is nearing completion of the upward correction. Locally, correction in wave (b) is being developed, within which the pair is likely to decline to the level of 1.3760. Critical level for this scenario is 1.3670.
GBP/USD Wave analysis and forecast for 18.04 – 25.04: The pair is likely to grow. Estimated pivot point is at the level of 1.6656.
Our opinion: Buy the pair above the level of 1.6656 with the target of 1.6980 – 1.70.
Alternative scenario: Breakout of the level of 1.6656 will allow the price to continue decline to the level of 1.65 and further down as part of large correction.
Analysis: The formation of the long-term uptrend, which is likely to take a shape of a zigzag ABC is still ongoing. Locally, the fifth final wave is being formed, within which the shallow final fifth wave (iii) is being formed in the junior wave level. If this assumption is true, and current correction does not break down the critical level of 1.6656, the pair will continue to rise to the levels of 1.6980 – 1.70.
USD/CHF Wave analysis and forecast for 18.04 – 25.04: Downtrend dominates. Locally the pair is experiencing correction. Estimated pivot point is at the level of 0.8775.
Our opinion: In the short-term: buy the pair from correction above the level of 0.8775 with the target of 0.8850 – 0.8870. In the medium-term: wait for the completion of upward correction and sell the pair with the target of 0.8670.
Alternative scenario: Breakout of the level of 0.8775 will enable the pair to continue decline to the level of 0.8670.
Analysis: Presumably, on the daily timeframe the formation of the fourth wave has completed and the pair continues to go down in the fifth wave of the forming wedge. At the moment local correction as the second wave is nearing completion. If this assumption is correct, the pair will continue to go down in the third wave iii of 5.
USD/JPY Wave analysis and forecast for 18.04 – 25.04: Formation of upward correction. The pair is likely to decline. Estimated pivot point is at the level of 101.80.
Our opinion: In the short-term: buy the pair above the level of 102.20 with the target of 102.70 – 103.0. In the medium-term: wait for the completion of upward correction and sell the pair after the formation of reversal with the target of 99.40.
Alternative scenario: Breakout of the level of 101.80 10 will enable the price to continue decline to the levels of 100.0 – 99.0 within downtrend.
Analysis: Presumably ascending correction as the second wave is nearing completion. Locally, a small wave (с) of ii is being formed, within which short-term growth up to the levels of 102.70 – 103.0 is possible. If this assumption is true, the pair is likely to continue decline in the third wave of the senior level.
USD/CAD Wave analysis and forecast for 18.04 – 25.04: Formation of downward correction. Downward movement is likely to continue. Estimated pivot point is at the level of 1.0980.
Our opinion: In the short-term: buy the pair above the level of 1.0980 with the target of 1.1070 – 1.1120. In the medium-term: wait for the completion of the upward correction and sell the pair with the target of 1.0850 – 1.0730.
Alternative scenario: Breakout of the level of 1.0980 will enable the pair to continue decline to the level of 1.0730.
Analysis: Presumably, the formation of impetus in the third wave of the long-term uptrend has completed. Locally, the fourth wave is being formed, within which downward impetus as a wave a of 4 has probably completed and upward correction in wave b is being formed. If this assumption is true the pair will continue to decline to the levels of 1.0850 – 1.0720.
