Wave Analysis 20.06.2012 (NZD/USD, EUR/USD)

20.06.2012

Analysis for June 20th, 2012

NZD/USD

We may assume that the price has completed an ascending zigzag pattern. There is a possibility that in the nearest future the pair may start an initial wave (1). One can consider opening additional sell orders after the price forms a bearish impulse.



As we can see at the H1 chart, the price has finished an impulse inside wave (C). It looks like the market is making a reverse. Most likely, within the next several days the pair will start moving downwards and form wave 1.



EUR/USD

It looks like the price is finishing wave 2. Earlier the pair completed zigzag pattern inside the fourth wave. The forecast remains the same. Most likely, the market will make a reverse downwards in the nearest future.



More detailed wave structure is shown on the H1 chart. We may assume that the price has completed an ascending impulse in wave C of (4). After the local correction is finished, we can expect the price to start forming a bearish wave 3.

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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