Wave Analysis 12.06.2012 (NZD/USD, EUR/USD)

12.06.2012

Analysis for June 12th, 2012

NZD/USD

The formation of wave [4] continues. Yesterday the price completed an impulse in wave (A) and then started the local correction. In the near term, we can the pair expect to finish wave (B) and start forming wave (C) of [4].



As we can see at the H1 chart, the price has completed a descending impulse in wave A. Currently the market is being corrected in wave B. The local correction may be finished within the next several hours and after that we can expect the pair to start the formation of wave C of (B).



EUR/USD

Euro has eliminated yesterday’s gap quite fast. It looks like the price is forming wave B. In the near term, we can expect the local correction to be finished and the price to start moving upwards while forming wave C of (4).



More detailed wave structure is shown on the H1 chart. We may assume that the price has formed divergent wedge pattern inside wave A. On the minor wave level the price is forming wave [B]. In the future we can expect the pair to start moving downwards in wave [C] of B.

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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