Tag Archives: EUR/USD

EUR/USD: Wave analysis and forecast of 07.03 – 14.03

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EUR/USD: Wave analysis and forecast of 07.03 – 14.03: Growth in the pair is likely to continue. Estimated pivot point is at the level of 1.3706.

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Our opinion: Buy the pair from correction above the level of 1.3706 with the target of 1.3940.
Alternative scenario: Breakout of the level of1.3706 will enable the price to continue decline to the levels of 1.36 – 1.35.
Analysis: Due to breakdown of the critical level and ongoing rise in the pair, wave analysis can be interpreted in favour of the rise in the pair. Updated chart shows that, the formation of the final wave as part of the ascending correction of the higher level, which can take a shape of a diagonal, is possible. Locally the fifth wave is being formed, which can take a shape of the final diagonal triangle, which can be completed at the level of 1.3940.

EURUSDD1

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USD/JPY Wave analysis and forecast for 28.02 – 07.03

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USD/JPY Wave analysis and forecast for 28.02 – 07.03: The pair is experiencing correction. A chance of medium-term decline in the pair is preserved. Estimated pivot point is at the level of 105.40.

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Our opinion: In the short-term: sell the pair below the level of 101.34 with the target of 103.30 – 103.60. In the medium-term: wait for the completion of ascending correction and sell the pair below the level of 105.40 with the target of 100.0 – 90.0.
Alternative scenario: Breakdown at the level of 105.40 will enable the pair to continue growth within uptrend to the level of 106.00 – 107.0.
Analysis: Presumably, the first in-lead wave within estimated large downward correction has completed. Locally, local ascending correction as the second wave, which is likely to take shape of a plane is being formed with a target level of 103.07. If this assumption is true, following completion of correction it makes sense to expect that the pair will continue to decline in the third wave.

USDJPY Wave analysis and forecast for 28.02 – 07.03 - 01 USDJPY Wave analysis and forecast for 28.02 – 07.03 - 02

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EUR/USD: Wave analysis and forecast of 28.02 – 07.03

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EUR/USD: Wave analysis and forecast of 28.02 – 07.03: Probability of decline in the pair is conserved. Estimated pivot point is at the level of 1.3775.

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Our opinion: Sell the pair from correction below the level of 1.3775 with the target of 1.36 – 1.35.
Alternative scenario: Breakout of the level of 1.3775 will enable the price to continue growth to the level of 1.39 – 1.40.
Analysis: It is not excluded that formation of ascending correction as the second wave, which took a shape of irregular plane, has completed. At the moment it is assumed that lead-in structure in the shape of diverging wedge as the first wave is being formed. If this assumption is true and the price does not break down the critical level of 1.3775, it makes sense to expect that the pair will decline to the levels of 1.36 – 1.35. Following breakdown of the level of 1.3470, the price may go down to the levels of 1.33 – 1.32.

EURUSD Wave analysis and forecast of 28.02 – 07.03 - 02

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EUR/USD: Wave analysis and forecast of 14.02 – 21.02

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EUR/USD: Wave analysis and forecast of 14.02 – 21.02: The pair is likely to decline. It is also possible that medium-term uptrend will continue. Estimated pivot point is at the level of 1.3740.
Our opinion: Sell the pair below the level of 1.3740 with the target of 1.33 – 1.30. Buy the pair in case of breakdown at the level of 1.3740 with the target of 1.3890.
Alternative scenario: Breakout of the level of 1.3740 will enable the price to continue growth to the level of 1.40.
Analysis: Presumably, the formation of the upward correction in the second wave ii. of 3 , which is likely to have a shape of a truncated Zigzag is nearing completion. If this assumption is true, and the price does not break down the critical level of 1.3740, it makes sense to expect decline in the pair to the levels of 1.33 – 1.30 in the third wave. In case of breakdown of the critical level, the pair will continue to grow and the nearest targets will be the levels of 1.3765 – 1.3890.

EURUSD Wave analysis and forecast of 14.02 – 21.02 - 02 EURUSD Wave analysis and forecast of 14.02 – 21.02 -01

EUR/USD: Wave analysis and forecast of 14.02 – 21.02

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EUR/USD: Wave analysis and forecast of 14.02 – 21.02: The pair is likely to decline. It is also possible that medium-term uptrend will continue. Estimated pivot point is at the level of 1.3740.
Our opinion: Sell the pair below the level of 1.3740 with the target of 1.33 – 1.30. Buy the pair in case of breakdown at the level of 1.3740 with the target of 1.3890.
Alternative scenario: Breakout of the level of 1.3740 will enable the price to continue growth to the level of 1.40.
Analysis: Presumably, the formation of the upward correction in the second wave ii. of 3 , which is likely to have a shape of a truncated Zigzag is nearing completion. If this assumption is true, and the price does not break down the critical level of 1.3740, it makes sense to expect decline in the pair to the levels of 1.33 – 1.30 in the third wave. In case of breakdown of the critical level, the pair will continue to grow and the nearest targets will be the levels of 1.3765 – 1.3890.

EURUSD Wave analysis and forecast of 14.02 – 21.02 - 02 EURUSD Wave analysis and forecast of 14.02 – 21.02 -01

EUR/USD: Wave analysis and forecast of 07.02 – 14.02

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There is a chance of decline in the pair. Estimated pivot point is at the level of 1.3740.
Our opinion: Sell the pair from correction below the level of 1.3740 with the target of 1.33 – 1.30.
Alternative scenario: Breakout of the level of 1.3740 will enable the price to continue growth to the level of 1.40.
Analysis: Presumably, the third wave of the higher level in the medium-term downtrend is being formed. At the moment, the first in-lead wave in the third one has formed and the formation of the upward correction as the second wave is nearing completion. If this assumption is true, and in case the price does not break down crucial level of 1.3740, it will make sense to expect decline in the pair to 1.33 – 1.30 within the third wave.

EURUSD Wave analysis and forecast of 07.02 – 14.02 - 0

EURUSD Wave analysis and forecast of 07.02 – 14.02 – 0

EURUSD Wave analysis and forecast of 07.02 – 14.02 - 0

EURUSD Wave analysis and forecast of 07.02 – 14.02 – 0

EUR/USD Down for the First Day in Three

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EURUSD_2013-01-28EUR/USD retreated today after the two-day rally. The faster-than-expected growth of US durable goods orders increased traders’ confidence in the economy and the currency of the United States. At the same time, economists are worried that the report later this week may show an increase of the eurozone unemployment rate to the record 11.9%. Such worries weakened the euro.

Durable goods orders grew as much as 4.6% in December, beating the analysts’ forecast of 1.8%. The November growth was 0.8%. (Event A on the chart.)

Pending home sales dropped 4.3% in December from November, when they went up 1.6%. Experts have promised an increase by 0.5%. Still, the sales remained in an uptrend on an annual basis. (Event B on the chart.)

On Friday, a report on new home sales was released, showing that the sales were at the seasonally adjusted annual rate of 369k, below the forecast value of 387k and the November rate of 398k (revised from 377k). (Not show on the chart.)

EUR/USD Climbs to Highest Since 2011

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EURUSD_2013-01-29EUR/USD was falling today, but later rebounded and touched the highest rate since December 2011. The Forex market is in the risk-on mode and that drives the currency pair higher. The US data was mixed today as the housing market continued to show signs of strength, but consumer sentiment dropped more than was expected. As for news from Europe, the German consumer climate was stable, indicating that the economic environment in Europe is improving. (Event A on the chart.)

S&P/Case-Shiller home price index rose from 144.08 in October to 144.99 in November. The annual growth was 5.5%, matching forecasts exactly. The year-on-year increase in October was 4.2%. (Event B on the chart.)

Consumer confidence fell from 66.7 in December (revised up from 65.1) to 58.6 in January. Analysts have hoped for higher reading of 64.8. (Event C on the chart.)