Best Forex Brokers:Wave analysis and forecast of 04.07 – 11.07.2014
EUR/USD: Wave analysis and forecast of 04.07 – 11.07: Completion of correction. The pair is likely to decline. Estimated pivot point is at the level of 1.3700.
Our opinion: Sell the pair from correction below the level of 1.3700 with the target of1.34 – 1.33.
Alternative scenario: Breakout of the level of 1.3700 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 (ii), which took shape of the irregular plane, has completed. Locally it is possible that in-lead small impetus is being formed; if this assumption is true, the pair will continue to decline in the third wave. Critical level for this scenario is the level of 1.3700. In case of breakdown of this level the pair will continue to grow and the correction will deepen to the level of 1.3750 – 1.38 in the second.
GBP/USD Wave analysis and forecast for 04.07 – 11.07: Uptrend is nearing completion. The pair is likely to start long-term decline. Estimated pivot point is at the level of 1.71.
Our opinion: Sell the pair below the level of 1.71 with the target of 1.69 – 1.68.
Alternative scenario: Breakout and consolidation above the level of 1.72 will enable the price to continue the rise up to the level of 1.73.
Analysis: Presumably, the formation of the ascending momentum in the fifth final wave of the senior level is nearing completion. At the moment, the fifth wave of the junior level is nearing completion. If this assumption is correct, in the near future the pair may start the decline.
USD/CHF Wave analysis and forecast for 04.07 – 11.07: The pair is likely to grow. Estimated pivot point is at the level of 0.8854.
Our opinion: Buy the pair from the correction above the level of 0.8854 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8854 will enable the pair to continue the decline to the levels of 0.88 – 0.8750.
Analysis: Presumably, the formation of the local correction as the second wave has completed. Locally, it is possible that the small in-lead momentum is being formed. If this assumption is correct, the pair will continue to grow in the third wave. Critical level for this scenario is 0.8854. Breakout of this level will trigger further decline in price and deepening of the correction up to the levels of 0.88 – 0.8750.
USD/JPY Wave analysis and forecast for 04.07 – 11.07: The pair is likely to grow.
Estimated pivot point is at the level of 101.20.
Our opinion: Sell the pair from correction above the level of 101.20 with the target of 103.20.
Alternative scenario: Breakout of the level of 101.20 will allow the price to continue the decline to the level of 100.50.
Analysis: Within the daily timeframe it is not excluded that horizontal correction as the wave (B) is being formed, which may take a shape of a triangle. At the moment it is likely that the wave C, as the double zigzag, is being formed. Locally, the momentum as the first wave of a zigzag (a) is being developed. If this assumption is correct, after the completion of the local correction, the pair will continue to go up to the level of 103.20. Critical level for this scenario is 101.20.
USD/CAD Wave analysis and forecast for 04.07 – 11.07: The correction is nearing completion. The pair is likely to grow. Estimated pivot point is at the level of 1.0680.
Our opinion: Buy the pair above the level of 1.0680 with the target of 1.09 – 1.10.
Alternative scenario: The pair will continue to decline to the levels of 1.06 – 1.0550.
Analysis: Presumably, the formation of the downward correction in the fourth wave is nearing completion. Locally, it is likely that the formation of the downward impetus in wave с of 4 is nearing completion. If this assumption is correct, the reversal will become possible and the pair may begin to rise in the fifth wave of the senior level. Breakout of the level of 1.0680 will be the confirmation of the reversal and the beginning of the rise in the pair. Buy positions can be placed above this level, with the stop-loss below the local lows at the moment of the breakout.
Best Forex Brokers:Wave analysis and forecast of 04.07 – 11.07.2014
