Top Forex Brokers:Forex Wave analysis and forecast of 20.06 – 27.06.2014
EUR/USD: Wave analysis and forecast of 20.06 – 27.06: Local correction is nearing completion. The decline in the pair is likely to continue. Estimated pivot point is at the level of 1.3680.
Our opinion: Sell the pair from correction below the level of 1.3680 with the target of 1.34 – 1.33.
Alternative scenario: Breakout of the level of 1.3680 will allow the price to continue the growth up to the levels of 1.3750 – 1.38.
Analysis: Presumably, the formation of the local correction in the second wave, which took shape of the irregular plain, has completed. Locally, the in-lead wave i of (iii) has been formed and minor correction in the second wave ii of (iii) is nearing completion. If this assumption is correct, following the completion of the current correction the pair will continue to decline in the third wave iii of (iii). Critical level for this scenario is 1.3680. In case of breakdown the pair will continue to grow to the levels of 1.3750 – 1.38.
Alternatively:
GBP/USD Wave analysis and forecast for 20.06 – 27.06: Uptrend in the pair continues. There is a chance of the local correction. Estimated pivot point is at the level of 1.6917.
Our opinion: In the short-term: wait for the completion of the fifth wave v of (iii) and the reversal and then sell the pair with the target of 1.6950 and stop-loss near the local highs. In the medium-term: wait for the formation of the fourth wave (iv) and sell the pair above the level of 1.6917 with the target of 1.71.
Alternative scenario: Breakout and consolidation below the level of 1.6917 will enable the price to continue the decline to the level of 1.67 – 1.66.
Analysis: Presumably, the formation of the ascending momentum in the fifth final wave of the senior level is still ongoing. At the moment the third wave of the junior level is nearly completed, within which the fifth wave v of (iii) is close to completion. If this assumption is correct, in the near future the pair will continue to decline in the fourth wave of the senior level towards the level of 1.6917. Critical level for this scenario is 1.6917.
USD/CHF Wave analysis and forecast for 20.06 – 27.06: The pair is undergoing correction. The pair is likely to grow. Estimated pivot point is at the level of 0.8906.
Our opinion: Buy the pair above the level of 0.8906 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8906 will enable the pair to continue the decline to the levels of 0.8850 – 0.88.
Analysis: Presumably, the formation of the uptrend continues, within which the third wave will be developed. Locally, the formation of the downward correction as the second wave (ii) of iii is nearing completion. If this assumption is correct, following the completion of the correction, it makes sense to expect that the pair will continue to rise up to the levels of 0.91 – 092. Critical level for this scenario is the level of 0.8906. In is also possible that in case of breakdown of the critical level, the correction may go up to the levels 0.8850 – 0.88 in the second wave of the senior level.
USD/JPY Wave analysis and forecast for 20.06 – 27.06: The pair is likely to decline.
Estimated pivot point is at the level of 102.34.
Our opinion: Sell the pair below the level of 102.34 with the target of 100.0.
Alternative scenario: Breakout of the level of 102.34 will allow the price to continue growth to the level of 104.0.
Analysis: Presumably, the formation of the final wave of the zigzag АВС is still ongoing on the daily timeframe. Locally, the fifth wave is being formed, within which the corrective wave (b) of the zigzag has completed and the final wave (c) of V started to develop. If this assumption is correct, the pair will continue to decline to the level of 100.0. Critical level for this scenario is 102.34.
USD/CAD Wave analysis and forecast for 20.06 – 27.06: The correction is getting more complicated. The pair is likely to decline. Estimated pivot point is at the level of 1.0894.
Our opinion: In the short-term: sell the pair below the level of 1.0894 with the target of 1.0726. In the medium-term: wait for the completion of the downward correction.
Alternative scenario: Breakout of the level of 1.0894 will allow the pair to continue the rise to the level of 1.0960 and higher up.
Analysis: Presumably, the formation of the downward correction in the fourth wave с of 4 is still ongoing, which will be probably transformed from the normal zigzag into the triple one wxyxz. Locally, the final zigzag in the wave z of 4 is being formed. If this assumption is correct, and the price does not break down the critical level of 1.0894, it makes sense to expect the price will continue to decline to the level of 1.0726.
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Top Forex Brokers:Forex Wave analysis and forecast of 20.06 – 27.06.2014
