Tag Archives: EURUSD Weekly Forecast

EUR/USD: Wave analysis and forecast of 25.07 – 01.08

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EUR/USD: Wave analysis and forecast of 25.07 – 01.08: The pair is likely to decline.

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Estimated pivot point is at the level of 1.3572.

Our opinion: Sell the pair from correction below the level of 1.3572 with the target of 1.3350 – 1.33.

Alternative scenario: Breakout of the level of 1.3572 will allow the price to continue the growth up to the levels of 1.3750 – 1.38.

Analysis: Presumably, the formation the third wave of the senior level (iii) is ongoing. Within this wave the “bearish’ impetus has completed as the third wave of the junior level. Locally, ascending correction is being formed iv of (iii). If assumption is correct, after the completion of the correction, the pair will continue to decline to the levels of 1.3350 – 1.33. Critical level for this scenario is 1.3572.

EURUSD-D1

EURUSD-H4

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EUR/USD: Wave analysis and forecast of 04.07 – 11.07

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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.

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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.

EURUSD-D1

EURUSD-H4

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EUR/USD: Wave analysis and forecast of 27.06 – 04.07

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EUR/USD: Wave analysis and forecast of 27.06 – 04.07: The pair is undergoing correction. The pair is likely to decline in the medium-term.

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Estimated pivot point is at the level of 1.3680.

Our opinion: Sell the pair from correction below the level of 1.3680 with the target of 1.34 – 1.33.

Alternative scenario: Breakout of the level of 1.3680 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, which took shape of the irregular plain, is nearing completion. Locally it is possible that the wave c of (ii) has been formed, and if this assumption is correct, the pair will continue to decline in the third wave. Critical level for this scenario is 1.3680. If this level is broken down the pair will continue to grow, and the correction will deepen to the level of 1.3750 – 1.38 in the second wave.

EURUSD-D1

EURUSD-H4

 

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Weekly Trading Forecasts on Major Pairs (June 30 – July 4, 2014)‏

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Here’s the market outlook for this week:

EURUSD-PairEURUSD
Dominant bias: Bullish
This pair is now in an uptrend, though the movement is tardy and shaky. Price has been very volatile as the bulls and bears fight for control. As a result of the Bullish Confirmation Pattern in the market, it is more likely that this pair will go further upwards. The resistance line at 1.3650 was tested and could be tested again, suggesting a breach to the upside.
 

 

USDCHF-PairUSDCHF
Dominant bias: Bearish
USD/CHF has also been slow and tardy, but bearish in outlook. So far, the market has been able to maintain its bearish bias, going lower in a slow and steady manner. This downward move is also riddled with high volatility. Since sellers have supremacy here, there is a possibility that price may reach the support level at 0.8900.

 

 

GBPUSD-PairGBPUSD
Dominant bias: Bullish
Here, the barrier to further northward movement remains the distribution territory at 1.7050, which was vigorously tested last week. It was tested this week as well but price is yet to close above it. After suffering a transient setback, price is now trying to go upwards to challenge the distribution territory again. This must be broken for the bullish outlook to maintain its validity.

 

 

USDJPY-Pair-05USDJPY
Dominant bias: Bearish
Short-term orders appear more logical than long-term ones at the moment, because the recent signals have been short-lived. Right now, there is a bearish indication in the market, so it makes sense to seek short trades.

 

 

EURJPYEURJPY
Dominant bias: Bearish
The recent ‘buy’ signal on this cross was weak and unsustainable. The bias has turned bearish because of perceived strength in the Yen. The EUR position is too delicate, and this is reflected in its weakness against the Yen. Price tested the demand zone at 138.00; and with renewed bearish effort, it could go lower to test the demand zone at 137.00.

 

 

I’d like to conclude this forecast with the following quote:

“It is the sum of all trades that is relevant for the trading result, not the single trade.” – Jens Klatt

EUR/USD: Wave analysis and forecast of 20.06 – 27.06

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EUR/USD: Wave analysis and forecast of 20.06 – 27.06: Local correction is nearing completion. The decline in the pair is likely to continue.

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Estimated pivot point is at the level of 1.3680.

Our opinion: Sell the pair from correction below the level of 1.3680 with the target of 1.34 – 1.33.

Alternative scenario: Breakout of the level of 1.3680 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, which took shape of the irregular plain, has completed. Locally, the in-lead wave i of (iii) has been formed and minor correction in the second wave ii of (iii) is nearing completion. If this assumption is correct, following the completion of the current correction the pair will continue to decline in the third wave iii of (iii). Critical level for this scenario is 1.3680. In case of breakdown the pair will continue to grow to the levels of 1.3750 – 1.38.

EURUSD-D1

EURUSD-H4

Alternatively:

EURUSD-H4-2

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EUR/USD: Wave analysis and forecast of 13.06 – 20.06

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EUR/USD: Wave analysis and forecast of 13.06 – 20.06: Euro is under pressure, downtrend prevails. 

Estimated pivot point is at the level of 1.3680.

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Our opinion: Sell the pair from correction below the level of 1.3680 with the target of 1.34 – 1.33.

Alternative scenario: Breakout of the level of 1.3680 will allow the price to continue growth to the levels of 1.38 – 1.3850.

Analysis: Presumably, the formation of the local correction in the second wave, which took shape of the irregular plain, has completed. Locally, the in-lead wave i of (iii) has been formed, as well as the small correction in the second wave ii of (iii). If this assumption is correct, following the completion of the correction the pair will continue to decline in the third wave iii of (iii).

 

EURUSD-D1

EURUSD-H4

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EUR/USD: Wave analysis and forecast of 23.05 – 30.05

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Estimated pivot point is at the level of 1.3993.

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Our opinion: In the short-term: buy the pair above the level of 1.3630 with the target of 1.3770 – 1.38. In the medium-term: sell the pair from correction with the target of 1.35 – 1.3477.

Alternative scenario: Breakout of the level of 1.3993 will enable the price to continue growth to the level of 1.41.

Analysis: Presumably, the formation of the in-lead momentum as the first wave has completed. Locally, the pair may experience upward correction in the second wave to the level of 1.3770, which may take a shape of irregular plain. If this assumption is correct, following the completion of the local correction, the pair will continue to decline to the levels of 1.35 – 1.3470. Critical level for this scenario is 1.3993.

EURUSD-D1

EURUSD-H4

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EUR/USD: Wave analysis and forecast of 16.05 – 23.05

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EURUSD-D1 EURUSD-H4EUR/USD: Wave analysis and forecast of 16.05 – 23.05: The pair is likely to decline. Estimated pivot point is at the level of 1.3993.

Our opinion: In the short-term: buy the pair above the level of 1.3645 with the target of 1.3820. In the medium-term: wait for the completion of the correction and sell below the level of 1.3993 with the target of 1.35 – 1.3477.

Alternative scenario: Breakout of the level of 1.3993 will enable the price to continue growth to the level of 1.41.

Analysis: Presumably, the formation of the in-lead momentum as the first wave has completed. Locally, the pair may experience upward correction in the second wave to the levels of 50% – 1.3820. If this assumption is correct, following the completion of the local correction, the pair will continue to decline to the levels of 1.35 – 1.3470. Critical level for this scenario is 1.3993.

EUR/USD: Wave analysis and forecast of 09.05 – 16.05

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EUR/USD: Wave analysis and forecast of 09.05 – 16.05: The pair is likely to decline.

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Estimated pivot point is at the level of 1.3995.
Our opinion: Sell the pair from correction below the level of 1.3995 with the target of 1.37 – 1.36.
Alternative scenario: Breakout of the level of 1.3995 will enable the price to continue growth to the level of 1.41.
Analysis: Presumably, the formation of the zigzag (a)(b)(c) has been completed in the final fifth wave of the diagonal triangle, which is nearing completion of the long-term upward correction in the weekly timeframe. Locally, it is possible that the first in-lead wave of the long-term downtrend is being formed. Critical level for this scenario is 1.3995.

EURUSD-D1

EURUSD-H4

EURUSD-Weekly

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EUR/USD: Wave analysis and forecast of 02.05 – 09.05

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EUR/USD: Wave analysis and forecast of 02.05 – 09.05: The pair will continue to grow.

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Estimated pivot point is at the level of 1.3770.
Our opinion: Buy the pair from correction above the level of 1.3770 with the target of 1.3950 – 1.40.
Alternative scenario: Breakout of the level of 1.3770 will enable the price to continue decline to the level of 1.3720.
Analysis: Presumably, zigzag (a)(b)(c) is being formed in the fifth wave of a diagonal triangle, which is completing long-term correction. Locally, formation of correction in wave (b) has completed, and downward impetus in wave (c) is being formed. Critical level for this scenario is 1.3670

EURUSD-D1 EURUSD-H4

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EUR/USD: Wave analysis and forecast of 25.04 – 02.05

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EUR/USD: Wave analysis and forecast of 25.04 – 02.05: The pair is likely to grow.

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Estimated pivot point is at the level of 1.3790.

Our opinion: Buy the pair above the level of 1.3790 with the target of 1.3950 – 1.40.

Alternative scenario: Breakout of the level of 1.3790 will enable the price to continue decline to 1.3720.

Analysis: Presumably, the zigzag (a)(b)(c) is being formed in the final fifth wave of a diagonal triangle, which is nearing completion of the long-term upward correction. Locally, formation of correction in wave (b) has completed, and formation of ascending impetus in wave (с) has begun. In case of breakdown of the level of 1.3790, formation of wave (b) will continue up to the bottom boundary of the forming wedge at the level of 1.3720. Critical level for this scenario is 1.3670.

EURUSD-D1 EURUSD-H4

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