Article By RoboForex.com
Forecast for April 21st, 2016
EUR USD, “Euro vs US Dollar”
After finishing the diagonal triangle in the wave c of (y), Eurodollar has started falling. It looks like earlier the pair formed the descending impulse in the wave i and the correction in the wave ii. In the nearest future, the market may continue falling in the wave iii.
More detailed structure is shown on the H1 chart. Probably, the wave ii has taken the form of the double zigzag. On the minor wave level, the price is about to complete the wave [1]. Consequently, on Thursday, the pair may start a new local ascending correction.
GBP USD, “Great Britain Pound vs US Dollar”
It looks like after finishing the wedge in the wave [i], Pound has formed the double zigzag in the wave [ii]. In the future, the market may fall in the wave (i).
As we can see at the H1 chart, the wave [ii] has taken the form of the double zigzag. After finishing the wavec of (y), the price is trying to resume its decline. It’s highly likely that in the nearest future the market may form the bearish impulse in the wave i.
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USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen has finished the wave (ii) and right now is starting a new growth in the wave (iii). The market has already broken the maximum of the wave (i), so the pair may continue moving upwards. I’ve got three buy orders and in the future plan to increase my long position.
At the H1 chart, the wave (ii) took the form of the zigzag. Later, the pair formed the bullish impulse in the wave I and the correction in the wave ii. In the nearest future, the market may continue growing in the waveiii of (iii).
AUD USD, “Australian Dollar vs US Dollar”
It looks like Australian Dollar may yet continue forming the ascending impulse. In the nearest future, the market may continue forming the wave (v) of [с]. After finishing this wave, the market may start falling in the wave (i).
As we can see at the H1 chart, the pair is finishing the horizontal triangle in the wave iv. Earlier, the market may formed the bullish impulse in the wave iii. Consequently, on Thursday the price may grow in the wave v of (v) and break its local high.
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.
