Estimated pivot point is at a level of 1.0810.
Our opinion: Buy the pair above the level of 1.1000 with the target of 1.15 – 1.16.
Alternative scenario: Breakout of the level of 1.1166 and consolidation below this level will enable the price the decline to 1.10.
Analysis: Presumably, the fifth wave is being developed in the one-two wedge. At the moment, it seems that the fourth wave of the junior level (iv) has completed. If this assumption is correct, and the price does not break down the critical level of 1.1166, the pair will continue to rise to the level of 1.15 in the fifth wave. In case of the decline in the pair below the 1.1166, correction will deepen to 1.10, and in this case the final diagonal triangle can develop in the fifth wave. Critical level for both options is 1.0810, the level of completion of the fourth wave of the senior level.
Alternative scenario:
GBP/USD Wave analysis and forecast of 05.06 – 12.06: The pair is likely to grow.
Estimated pivot point is at a level of 1.5167.
Our opinion: Buy the pair above the level of 1.5167 with the target of 1.57 – 1.58.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.5167 will enable the pair to continue decline to 1.5044.
Analysis: Presumably, the formation of the “bearish” correction in the wave B, which has a shape of the zigzag, has completed. At the moment, it is assumed that the reversal has formed and the first one-two wave of the junior level i of C of 2 is being developed. If this assumption is correct and the price will not break down the critical level of 1.5167, the pair can go up to 1.57 – 1.58.
AUD/USD Wave analysis and forecast of 05.06 – 12.06: The pair is likely to grow.
Estimated pivot point is at a level of 0.7590.
Our opinion: Buy the pair above the level of 0.7590 with the target of 0.7930 – 0.8160.
Alternative scenario: Breakout and consolidation of the price below the level of 0.7590 will enable the pair to continue decline to 0.74 – 0.73 in the long-term bearish trend.
Analysis: The Australian dollar has started to strengthen. Presumably the formation of the “bearish” correction as the wave 2, which has a shape of the irregular plane with the extended wave с of 2, has completed. At the moment the price has rebounded upward from the level of 0.7590, and it looks like the one-two impetus of the junior level (i) has been formed. If this assumption is correct and the price does not break down the critical level of 0.7590, after the completion of the correction the pair can continue to rise up to 0.7930 – 0.8160.
USD/JPY Wave analysis and forecast of 05.06 – 12.06: The pair is likely to decline.
Estimated pivot point is at a level of 125.00.
Our opinion: Sell the pair below the level of 125.00 with the target of 122.00 - 118.00.
Alternative scenario: Breakout and consolidation of the price above the level of 125.00 will enable the pair to continue the rise up to 126.00.
Analysis: Presumably, the formation of the bullish impetus in the fifth wave has completed. The pair is likely to decline and might reach correction. Locally, it is likely that one-two “bearish” impetus has been formed. If this assumption is correct, the pair will continue to decline to 122.00 – 118.00. Critical level for this scenario is 125.00.
USD/СAD Wave analysis and forecast of for 05.06 – 12.06: Uptrend continues.
Estimated pivot point is at a level of 1.2561.
Our opinion: In the short-term: sell the pair below the level of 1.2561 with the target of 1.2240. In the medium-term: wait for the completion of the correction and buy the pair with the target of 1.2840.
Alternative scenario: Breakout and consolidation of the price above the level of 1.2561 will enable the pair to continue the rise up to 1.2840.
Analysis: Presumably, the formation of the “bullish” impetus in the first wave within the fifth senior level has completed. Locally, it seems that the “bearish” correction as the second wave is being developed, within which the pair can go up to 1.2240. Critical level for this scenario is 1.2561. Breakdown of this level will enable the pair to continue the rise up to 1.2843.
No comments:
Post a Comment