Best Forex Brokers:Forex Wave analysis and forecast of 25.07 – 01.08.2014
EUR/USD: Wave analysis and forecast of 25.07 – 01.08: The pair is likely to decline. Estimated pivot point is at the level of 1.3572.
Our opinion: Sell the pair from correction below the level of 1.3572 with the target of 1.3350 – 1.33.
Alternative scenario: Breakout of the level of 1.3572 will allow the price to continue the growth up to the levels of 1.3750 – 1.38.
Analysis: Presumably, the formation the third wave of the senior level (iii) is ongoing. Within this wave the “bearish’ impetus has completed as the third wave of the junior level. Locally, ascending correction is being formed iv of (iii). If assumption is correct, after the completion of the correction, the pair will continue to decline to the levels of 1.3350 – 1.33. Critical level for this scenario is 1.3572.
GBP/USD Wave analysis and forecast for 25.07 – 01.08: The pair is likely to decline. Estimated pivot point is at the level of 1.7191.
Our opinion: Sell the pair from correction below the level of 1.7191 with the target of 1.6830 – 1.6720.
Alternative scenario: Breakout and consolidation above the level of 1.7191 will enable the price to continue the rise up to 1.73.
Analysis: Presumably, the formation of the ascending momentum in the fifth final wave of the senior level V of 5 of C has completed. At the moment it is possible that the first one-two, one-two wave of the large “bearish” correction is being formed. If this assumption is correct and the price does not break down the critical level of 1.7191, the pair will continue the decline to the levels of 1.6830 – 1.6720.
USD/CHF Wave analysis and forecast for 25.07 – 01.08: The pair is likely to grow. Estimated pivot point is at the level of 0.8960.
Our opinion: Buy the pair from the correction above the level of 0.8960 with the target of 0.9070 – 0.91.
Alternative scenario: Breakout of the level of 0.8960 will enable the pair to continue the decline to the levels of 0.89 – 0.8850.
Analysis: Presumably, the formation of the upward impetus in the third wave iii continues. Locally, a small impetus is being formed as the wave (iii) of iii. If this assumption is correct and the price does not break down critical level 0.8960, the pair will continue to rise in the third wave (iii) to the level of 0.9150. Breakout of the critical level will trigger further decline to the levels of 0.8850 – 0.88 and abolishing of the estimated scenario with the formation of the upward impetus.
USD/JPY Wave analysis and forecast for 25.07 – 01.08: The pair is likely to decline.
Estimated pivot point is at the level of 102.27.
Our opinion: Sell the pair from correction below the level of 102.27 with the target of 100.00 – 99.40.
Alternative scenario: Breakout of the level of 102.27 will allow the price to continue the rise up to the level of 103.00.
Analysis: On the daily timeframe it is not excluded that the formation of the horizontal correction as the wave (B) which took a shape of a triangle, has completed. At the moment it is likely that the first wave 1 of (C) is being formed, within which an impetus may emerge. If this assumption is correct, the pair will continue to decline to 100.00 – 99.40. Critical level for this scenario is 102.27.
USD/CAD Wave analysis and forecast for 25.07 – 01.08: The pair is likely to grow. Estimated pivot point is at the level of 1.0706.
Our opinion: Buy the pair above the level of 1.0706 with the target of 1.09 – 1.10.
Alternative scenario: Breakout of the level of 1.0706 will enable the decline in the pair up to the level of 1.0650 – 1.0616.
Analysis: Presumably, the formation of the downward correction in the fourth wave has completed. Locally, it is likely that the formation of the first one-two, one-two wave (i), as well as the correction to it(ii), has completed. If this assumption is correct, the pair will continue to rise not breaking down the critical level of 1.0706. Otherwise, the pair will continue to decline to the level of 1.0650 – 1.0616.
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Best Forex Brokers:Forex Wave analysis and forecast of 25.07 – 01.08.2014
