Top Forex Brokers:Wave analysis and forecast of 21.02 – 28.02.2014
Top Forex Brokers:Wave analysis and forecast of 21.02 – 28.02.2014
Keywords: Forex Analysis,Forex Review,top Forex Brokers,Best Forex Brokers, forex trading strategy,forex trading system,forex trading signals.
EUR/USD: Wave analysis and forecast of 21.02 – 28.02: A chance of decline in the pair is still preserved. Estimated pivot point is at the level of 1.3880.
Our opinion: Wait for the completion of the ascending correction and in case of trend reversal, sell the pair below the level of 1.3880.
Alternative scenario: Breakout of the level of 1.3880 will enable the price to continue growth to the level of 1.40.
Analysis:
Presumably, the formation of the upward correction in the second wave
has complicated. It is not excluded that at the moment final wave of
irregular plane C. of 2 is nearing completion. This wave can reach the
level of 1.38. If this assumption is correct and if the price does not
break down the critical level of 1.3880, it makes sense to expect that
the pair will decline to the levels of 1.33 – 1.30, in the third wave.
GBP/USD Wave analysis and forecast for 21.02 – 28.02: The pair is likely to decline. Estimated pivot point is at the level of 1.6825.
Our opinion: Sell the pair from correction below the level of 1.6825 with the target of 1.65 – 1.63.
Alternative scenario: Breakout of the level 1.6825 will enable the pair to continue growth to the levels of 1.69 – 1.70.
Analysis:
Presumable, the formation of the large ascending momentum in the first
wave has completed. Locally, it is not excluded has the first in-lead
waves of the downward correction are being formed. If this assumption is
true, the pair will continue to decline to the level of 1.65.
Feasibility of his scenario will be proved after breakdown of the level
of 1.6247.
USD/CHF Wave analysis and forecast for 21.02 – 28.02: The pair is likely to grow. Estimated pivot point is at the level of 0.8800.
Our opinion: Buy the pair above the level of 0.8800 with the target of 0.92 - 0.93.
Alternative scenario:
Breakdown and consolidation below the level 0.8800 will enable the pair
to continue decline to the levels of 0.87 – 0.86 within long-term
downtrend.
Analysis: Presumably, the formation of the downward
correction within the second wave, which has a shape of a complete
Zigzag, has completed. If this assumption is true, it makes sense to
expect trend the rise in price to the level of 0.92 – 0.93 within the
third wave.
USD/JPY Wave analysis and forecast for 21.02 – 28.02: The pair experience correction. In the medium-term the pair is likely to decline. Estimated pivot point is at the level of 105.40.
Our opinion:
In the short-term: sell the pair below the level of 101.34 with the
target of 103.30 – 103.60. In the medium-term: wait for the completion
of ascending correction and sell the pair below the level of 105.40 with
the target of 100.0 – 90.0.
Alternative scenario: Breakdown at the level of 105.40 will enable the pair to continue growth within uptrend to the level of 106.00 – 107.0.
Analysis:
Presumably, the first in-lead wave within estimated large downward
correction has completed. Locally, local correction as the second wave,
which is likely to take shape of a Zigzag is being formed. Target level
of this correction is 103.32. If this assumption is true, following
completion of correction it makes sense to expect that the pair will
continue to decline in the third wave.
USD/CAD Wave analysis and forecast for 21.02 – 28.02: Uptrend prevails. Estimated pivot point is at the level of 1.0907.
Our opinion: Buy the pair from correction above the level of 1.0907 with the target of 1.13 – 1.14.
Alternative scenario: The formation of downward correction will continue up to the levels of 1.0830 – 1.0740.
Analysis:
It is not excluded that local correction as the second wave of (3) has
completed. If this assumption is true, it makes sense to expect that
growth in the third wave (3) will continue. In case of breakdown of the
level of 1.0907, downward correction may continue to the levels of 38% -
50%.
