Wave analysis and forex forecast EUR / USD on the week 01.05 - 05.05.2017: Bullish Euro Dollar pair remains in force.
Estimated pivot point is at 1.0849.
Analysis EUR / USD : The graph four hour time frame is presumably formed uptrend, in which presumably develops a third wave of senior iii of 3. At the moment, apparently developing bullish momentum as the wave (I). If the assumption is true, it is logical to expect continuation of growth of pair to the level of 1.1000 and above. Critical for this scenario could be the level of 1.0849, the breakdown of which the price will continue to decline marks 1.0760 - 1.0715 in the framework of a deeper correction.
Alternative scenario : A break and consolidation rates EUR / USD below 1.0849 will allow the pair EUR / USD to continue to fall to 1.0760 marks - 1.0715.
Our view : Buy EUR / USD pair from correction above 1.0849 level with the aim of 1.1000 - 1.1160.
Wave analysis of the GBP / USD rate and forex forecast for the week 01.05 - 05.05.2017 : Bullish trend for the pair GBP / USD in force.
Estimated pivot point is at 1.2749.
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 1.3050 - 1.3150. Critical to this scenario is the level of 1.2749.
Alternative scenario : A break and consolidation of price GBP / USD below 1.2749 will allow the pair GBP / USD continue to decline to around 1.2570.
Our view : Buy the pair GBP / USD on corrections above the level of 1.2749 with the aim of 1.3050 - 1.3150.
Forex Wave analysis and forecast for the week USD / CHF 01.05 - 5.5.2017 : traders should wait for decline.
Estimated pivot point is at 0.9998.
Analysis of USD / CHF : As part of the daily time frame is expected to be completed the formation of a long-term upward correction as the fourth wave of the senior level. Locally, apparently, it began the development of the fifth wave in which develops the first wave 1 in the form of a wedge. If the assumption is true, in the medium term decrease in pair will proceed to a mark 0.9809. Critical to this scenario is the level of 0.9998.
Alternative scenario: A break and consolidation of price USD / CHF above the level of 0.9998 will allow the pair to continue to grow to the level of 1.0101.
Our opinion : Sell pair USD / CHF from correction below 0.9998 with the aim of 0.9809.
Forex Wave analysis and forecast of the dollar, the yen exchange rate for the week 01.05 - 05.05.2017 : expected continuation of growth of pair USD / JPY.
Estimated pivot point is at 110.43.
Analysis USD / JPY : Presumably, formation of a downward correction in a wave in the upper layer. Locally, apparently it began development of wave C, within which is formed as a lead-in pulse wave (i) a junior level. If the assumption is true, then the pair will continue to grow to the level of 112.25 and above. Critical to this scenario is the level of 110.43.
Alternative scenario : A break and consolidation of price USD / JPY below 110.43 will allow the pair USD / JPY to continue to decline to around 109.60.
Our view : Buy USD / JPY pair of correction higher than the 110.43 to 112.25 and higher purpose.
The author analyzes -
Alexander Geuta,
trader and analyst LiteForex
