Wave analysis of the euro, the dollar and forex forecast EUR / USD on the week 29.05 - 06.02.2017 : Bullish EUR / USD pair stands.
Estimated pivot point is at 1.1164.
Analysis EUR / USD : Within four hour time frame, presumably, development of the third wave senior level 3. At this point, apparently, formed upward momentum within the junior level of the third wave (iii), in which growth is expected to marks 1.1300 - 1.1350. Critical for this scenario could be the level of 1.1164.
Alternative scenario : A break and consolidation rates EUR / USD below 1.1164 will allow the pair EUR / USD to continue to fall to around 1.1070 in the correction.
Our view: Buy EUR / USD pair from correction above 1.1164 level with the aim of 1.1300 - 1.1350.
Forex Wave analysis and forecast of the dollar pound GBP / USD on the week 29.05 - 02.06 : expected depreciation of the GBP / USD.
Estimated pivot point is at 1.3014.
Analysis GBP / USD: Presumably, formation of the ascending pulse wave within c of 4 senior level. At present, most likely, formation of the fifth wave 5, in which the first lead-in wave (i) presumably develops. If the assumption is true, the price decline will continue to marks 1.2748 - 1.2670. Critical to this scenario is the level of 1.3014.
Alternative scenario : A break and consolidation of price GBP / USD above the 1.3014 will allow the pair GBP / USD continue to rise to marks 1.3100 - 1.3200.
Our opinion: Selling a pair GBP / USD on corrections below the level of 1.3014 with the aim of 1.2748 - 1.2670. In the case of the breakdown level of 1.3014 to buy GBP / USD with the aim of 1.3100 - 1.3200.
Wave analysis usd chf and forex forecast for the week USD / CHF 29.05 - 02.06 : The pair USD / CHF correction.
Estimated pivot point is at 0.9690 level.
Analysis of USD / CHF : In the four hour time frame, presumably, formation of the downward trend in the third wave of three senior level. Locally, apparently completed downward momentum as the third wave junior level (iii) of iii of 3 and formation of the ascending correction (iv) of iii. If the assumption is true, it is logical to expect the correction pair growth to marks of 0.9784 - 0.9844. Critical for this scenario could be the level of 0.9690.
Alternative scenario : A break and consolidation of price USD / CHF below 0.9690 will allow the pair USD / CHF continue to decline to around 0.9622.
Our view : Buy the pair USD / CHF on the correction above 0.9690 level with the aim of 0.9784 - 0.9844. In the case of breakdown of 0.9690 level with the aim to sell 0.9622.
Wave analysis of the dollar, the yen and forex forecast USD / JPY for the week 29.05 - 02.06 : expected decrease in quotations of USD / JPY.
Estimated pivot point is at 111.96.
Analysis USD / JPY : Presumably, formation of a descending correction as ii wave within the wave C senior level. Locally, apparently completed development upward correction as the wave (b) of ii of C and the formation of the wave (c). If the assumption is true, it is logical to expect continuation of decrease in pair marks to 110.25 - 109.40. Critical to this scenario is the level of 111.96.
Alternative scenario : A break and consolidation of price USD / JPY above the level of 111.96 will allow the pair USD / JPY to continue to grow to the level of 112.80.
Our opinion : Sell USD / JPY pair from correction below the level of 111.96 with the aim of 110.25 - 109.40.
The author analyzes -
Alexander Geuta,
trader and analyst LiteForex
