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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 06.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
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Wave Analysis 06.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

06.04.2016

Forecast for April 6th, 2016

EUR USD, “Euro vs US Dollar”

It looks like Eurodollar has finished the wave 2 of the larger diagonal triangle. On the minor wave level, probably, the market is forming the bearish impulse in the wave [i]. During the day, the price may continue falling.



More detailed structure is shown on the H1 chart. It looks like the pair has formed the descending impulse in the wave (i) and then the correction in the wave (ii), which has taken the form of the flat. In the future, the price may resume falling in the wave (iii).




GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming the descending wave [iii]. It’s highly likely that earlier, after finishing the wave 4, the price formed the bearish impulse in the wave [i] and the correction in the wave [ii]. In the nearest future, the pair may break the minimum of the wave [i].



As we can see at the H1 chart, Probably, Pound is extending the wave (iii). On the minor wave level, the price is about to finish the wave iii and may start a new local correction soon. Later, after completing the correction, the market fall in the wave v of (iii).




USD JPY, “US Dollar vs Japanese Yen”

It looks like the price is forming the fourth wave in the wave C, which is taking the form of the diagonal triangle. On Wednesday, the pair may start moving towards the pattern’s upper border.



At the H1 chart, probably, Yen has finished the zigzag in the wave (iii). On the minor wave level, the pair has completed the descending impulse in the wave c. Consequently, on Wednesday market may move upwards a little bit while forming the wave (iv).




AUD USD, “Australian Dollar vs US Dollar”

Probably, the market has finished the bullish impulse [с] in the flat 4. On the minor wave level, Australian Dollar may start forming a new bearish impulse in the wave (i).



At the H1 chart, the wave v of (v) turned out to be truncated. Later, Australian Dollar finished the bearish impulse in the wave I and the wave iii as well. On Wednesday, after finishing the local correction, the market may resume its decline in the wave v of (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.