Forecast for April 20th, 2016
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is about to complete the wave
ii. Earlier, after finishing the
diagonal triangle in the wave
c of (y), the price formed the descending impulse in the wave
i. Consequently, in the nearest future the market may start falling in the wave
iii.
As we can see at the H1 chart, the wave
ii is taking the form of the
double zigzag. On the minor wave level, yesterday the price completed the wave
[Y]. On Wednesday, the pair may continue falling in the wave
[1] and reach new local lows.
GBP USD, “Great Britain Pound vs US Dollar”
The structure of the H4 chart has been changed. It looks like Pound formed the
divergent horizontal triangle[b] inside the
zigzag4. Later, the price finished the
wedge in the wave
[i] and the correctional
double zigzag in the wave
[ii]. Consequently, in the nearest future the market may start falling in the wave
(i) of [iii].
More detailed structure of the
double zigzag[ii] is shown on the H1 chart. Probably, yesterday the price finished the ascending impulse in the wave
c of (y). In the nearest future, the market may start forming the bearish impulse in the wave
i.
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that Yen has 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 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 start a new ascending movement in the wave
iii of (iii).
AUD USD, “Australian Dollar vs US Dollar”
It looks like Australian Dollar may yet continue forming the ascending impulse. 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).
More detailed structure of the
diagonal triangle(v) of [c] is shown on the H1 chart. It’s highly likely that on Wednesday the market may be corrected downwards in the wave
iv. Later, the price is expected to grow towards the pattern’s upside border while forming the wave
v of (v).
RoboForex Analytical Department