Wave analysis and forex forecast EUR / USD on the week 24.04 - 04.28.2017: EUR / USD - traders should wait for decline.
Estimated pivot point is at 1.0776.
Analysis EUR / USD: Presumably, formation of the fifth wave 5 senior level. At the moment, it seems to have formed the first wave i of 5 in the form of a zigzag, which suggests the possibility of forming a diagonal triangle in the fifth wave. Locally, presumably finished rising correction ii of 5, which took the shape of zigzag and correction level reached 62%. If the assumption is true, it is logical to expect a renewal of decrease in pair marks to 1.0600 - 1.0450. Critical to this scenario is the level of 1.0776.
Alternative scenario : A break and consolidation rates EUR / USD above the 1.0776 will allow the pair EUR / USD continue to rise to the level of 1.0904.
Our opinion : Sell EUR / USD pair from correction below 1.0776 with the aim of 1.0600 - 1.0450.
Wave analysis of the GBP / USD and forex forecast for the week 24.04 - 04.28.2017 : Bullish pair GBP / USD in force.
Estimated pivot point is at 1.2704.
Analysis GBP / USD : Presumably, formation of ascending correction senior level as the fourth wave 4, in which the wave c of 4. develops locally appear, continues to form a third wave (iii) of c, in which bovine pulse develops . If the assumption is true, then the pair will continue to rise marks 1.2950 - 1.3050. Critical to this scenario is the level of 1.2704.
Alternative scenario : A break and consolidation rate GBP / USD below 1.2704 will allow the pair GBP / USD continue to decline to around 1.2350.
Our view : Buy the pair GBP / USD on corrections above the level of 1.2704 with the aim of 1.2950 - 1.3050.
Wave analysis and forex forecast pair USD / CHF for the week 24.04 - 04.28.2017 : the growth of quotations is expected to pair USD / CHF.
Estimated pivot point is at 0.9938.
Analysis USD / CHF : Presumably, formation of a third wavelength 3 senior level. Locally, apparently formed filar pulse wave as (i) and completed the development of a downward correction (ii), which reached 50% Fibonacci level. If the assumption is true, it is logical to expect the resumption of growth of pair as part of the third wave (iii) to marks 1.0104 - 1.0160. Critical to this scenario is the level of 0.9938.
Alternative scenario : A break and consolidation of dollar franc below 0.9938 will allow the pair USD / CHF continue to decline to around 0.9813.
Our view : Buy the pair USD / CHF on the correction above 0.9938 level with the aim of 1.0104 - 1.0160.
Dollar Yen. Wave analysis of the USD / JPY and forex forecast for the week 24.04 - 04.28.2017 : Bearish USD / JPY pair in force.
Estimated pivot point is at 110.20.
Analysis USD / JPY : Presumably, formation of a descending trend under iii senior level of the third wave. Locally, apparently develops third wave (iii) a junior level, under which completes ascending correction iv of (iii). If the assumption is true, it is logical to expect continuation of decrease in pair to the level of 107.50. Critical to this scenario is the level of 110.20.
Alternative scenario : A break and consolidation of the dollar / yen above the level of 110.20 will allow the pair USD / JPY to continue to grow to marks 112.65 - 113.26.
Our opinion : Sell USD / JPY pair from correction below the level of 110.20 with the aim of 107.50.
Wave analysis and forex forecast USD / CAD for the week 24.04 - 28.04.2017 : The appreciation of the USD / CAD has resumed.
Estimated pivot point is at 1.3380.
Analysis of USD / CAD: Apparently, the formation of a long-term upward correction within wave B continues. Locally, presumably, comes to the development of wave of B, in which junior level (iii) of the third wave began to form. If the assumption is true, the pair will continue to rise marks 1.3560 - 1.38. Critical for this scenario could be the level of 1.3380, the breakdown of which the price will continue to fall to around 1.3220.
Alternative scenario: A break and consolidation of price USD / CAD below 1.3380 will allow the pair USD / CAD continue to decline to around 1.3220.
Our view: Buy the pair USD / CAD from the correction above 1.3380 level with the aim of 1.3560 - 1.38. In the case of the breakdown level of 1.3380 to sell USD / CAD with the aim of 1.3220.
The author analyzes -
Alexander Geuta,
trader and analyst LiteForex
