Top Forex Brokers:Wave analysis and forecast of 14.02 – 21.02.2014
Top Forex Brokers:Wave analysis and forecast of 14.02 – 21.02.2014
EUR/USD: Wave analysis and forecast of 14.02 – 21.02: The pair is likely to decline. It is also possible that medium-term uptrend will continue. Estimated pivot point is at the level of 1.3740.
Our opinion:
Sell the pair below the level of 1.3740 with the target of 1.33 – 1.30.
Buy the pair in case of breakdown at the level of 1.3740 with the
target of 1.3890.
Alternative scenario: Breakout of the level of 1.3740 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
ii. of 3 , which is likely to have a shape of a truncated Zigzag is
nearing completion. If this assumption is true, and the price does not
break down the critical level of 1.3740, it makes sense to expect
decline in the pair to the levels of 1.33 – 1.30 in the third wave. In
case of breakdown of the critical level, the pair will continue to grow
and the nearest targets will be the levels of 1.3765 – 1.3890.
GBP/USD Wave analysis and forecast for 14.02 – 21.02: Uptrend continues. Estimated pivot point is at the level of 1.6250.
Our opinion: Buy the pair from correction above the level of 1.6250 with the target of 1.6860.
Alternative scenario: Breakout of the level 1.6250 will enable the pair to continue decline in correction throughout the ascending momentum.
Analysis:
Uptrend continues. It is not excluded that the final fifth wave of the
ascending momentum, which has elongated first wave is being formed. If
this assumption is true, the fifth wave is restricted by the level of
1.6864, according to the rule that the third wave shall not be the
shortest. According to wave laying, locally, the first wave inside
estimated fifth wave is nearing completion, suggesting that in the near
future downward correction will develop to the levels of 1.6470 –
1.6420.
USD/CHF Wave analysis and forecast for 14.02 – 21.02: Growth is the pair is likely to continue. Estimated pivot point is at the level of 0.8800.
Our opinion: Wait until correction completes and reversal begins and 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, formation of the downward
correction within the second wave is nearing completion. If this
assumption is true, it makes sense to expect trend reversal and
continuation of the rise in price to the level of 0.92 – 0.93 within the
third wave.
USD/JPY Wave analysis and forecast for 14.02 – 21.02: Decline in the pair is likely to continue. Estimated pivot point is at the level of 102.70.
Our opinion: Sell the pair below the level of 102.70 with the target of 100.0.
Alternative scenario: Breakdown at the level of 102.70 will enable the pair to continue growth within uptrend to the level of 103.40 – 104.0.
Analysis:
The pair continues to decline. It is not ruled out that in-lead impetus
is developing at the moment. Locally, the fourth wave of momentum iv of
1 of (a) has completed. If this assumption is true, in the short-term,
another wave of decline up to the level of 100.0 is possible, after
which the pair will reverse to correction of the higher level 2 of (a).
On the daily and weekly timeframes it is likely that ascending momentum
is being formed; at the moment, price is shifting to correction
throughout the entire momentum.
USD/CAD Wave analysis and forecast for 14.02 – 21.02: Uptrend prevails. The pair is experiencing correction. Estimated pivot point is at the level of 1.1025.
Our opinion: Buy the pair above the level of 1.1025 with the target of 1.13 – 1.14.
Alternative scenario: Downward correction will continue up to the levels of 1.09 – 1.0830.
Analysis:
On the weekly time-frame it is possible that the third wave of the
global correction ABC is being formed, which is extending. Locally
downward correction as the fourth wave 4 of (3) is being formed. If this
assumption is true, it makes sense to expect that growth in the third
wave (3) will continue. 
