Wave Analysis 13.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
13.04.2016
Forecast for April 13th, 2016
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar has completed the zigzag in the wave (y) and, consequently, the diagonal triangle in the wave 2. Also, the pair has formed the diagonal triangle in the wave c of (y), thus confirming that the market may start moving downwards on Wednesday.
As we can see at the H1 chart, after finishing the zigzag in the wave b, Eurodollar has started growing. Yesterday, the price completed the wave [5] in the diagonal trianglec and then, after breaking the pattern’s downside border, formed the bearish impulse in the wave [2]. In the nearest future, the market may move downwards in the wave [3].
GBP USD, “Great Britain Pound vs US Dollar”
The bearish scenario with the extension in the wave [iii] remains in effect. Earlier, after completing the wave 4 in the form of the zigzag, the price formed the descending impulse in the wave [i]. After finishing the local correction, the pair may resume its decline and break the previous minimum.
As we can see at the H1 chart, Pond has finished the zigzag in the wave (ii). Yesterday, the market formed the bullish in the wave c, started falling in the wave i, and then completed the wave ii. Consequently, in the nearest future the pair may move downwards in the wave iii.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen has finished the impulse in the wave C. On the minor wave level, the market is about to complete the bullish impulse in the wave (i). Consequently, after finishing the local correction, the market may grow in the wave (iii).
More detailed structure is shown on the H1 chart. After finishing the wave (v) of [v], Yen has started growing in the wave (i). On the minor wave level, the price is completing the wave v, so in the nearest future the pair may start falling in the wave (ii).
AUD USD, “Australian Dollar vs US Dollar”
The market is finishing the ascending impulse [с] of 4. Probably, in the nearest future the market may complete the wave (v) and start falling in the wave (i).
After finishing the wave (iv) in the form of the double three, the pair has started a new ascending impulse in the wave (v). On the minor wave level, the market may continue moving upwards in the wave v during the day, but later it is expected to start falling in the wave i.
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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.