Article By RoboForex.com
Forecast for April 19th, 2016
EUR USD, “Euro vs US Dollar”
The ascending correction is becoming deeper. It looks like earlier Eurodollar completed the wave 2 in the form of the double zigzag and then formed the descending impulse in the wave i. It’s highly likely that after finishing the wave ii the market may continue moving downwards.
As we can see at the H1 chart, the wave ii is taking the form of the double zigzag. On the minor wave level, the price is about to complete the wave [Y]. After the pair forms the descending impulse in the wave [1], bears will return to the market.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is also still being corrected. Earlier, the marker finished the wave 4 in the form of the zigzag and then two descending impulses, which means that the pair may continue forming the extension in the wave [iii] of 5. In the nearest future, the market may start forming the wave (iii) of this wave.
More detailed structure is shown on the H1 chart. It looks like the price is about to finish the ascending zigzagin the wave y of (ii). After forming the impulse in the wave [С], the market may resume its descending movement.
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USD JPY, “US Dollar vs Japanese Yen”
Yesterday Yen finished the wave (ii), which was quite fast. Probably, the price is starting a new growth in the wave (iii). Consequently, in the nearest future the market may break the maximum of the wave (i).
As we can see at the H1 chart, the price has completed the zigzag in the wave (ii). On the minor wave level, the pair has formed the ascending impulse in the wave i. Consequently, after finishing the local correction, Yen may start a new ascending movement in the wave iii of (iii).
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues forming the ascending impulse. It looks like the wave (v) of [с] is taking the form of the diagonal triangle. After finishing this pattern, the market may start falling in the wave (i).
As we can see at the H1 chart, the market is about to finish the third wave in the wave (v). Consequently, on Tuesday, Australian Dollar may form the final ascending structure in the wave v of (v).
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
