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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 08.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
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Wave Analysis 08.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

08.04.2016

Forecast for April 8th, 2016

EUR USD, “Euro vs US Dollar”

Probably, Eurodollar is about to complete the double zigzag in the wave [y] of 2. On the minor wave level, probably, the market is forming the diagonal triangle in the wave c of (y). Consequently, in the nearest future, the pair may grow a little bit and break this week’s high.



More detailed structure is shown on the H1 chart. It looks like yesterday Eurodollar finished the wave [2] inside the diagonal triangle. Thus, on Friday the market may move upwards a bit in the wave [3] of c.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming the descending extension in the wave [iii]. Earlier the price completed the wave 4 in the form of the zigzag. In the nearest future, after finishing the local correction, the pair may resume its decline.



As we can see at the H1 chart, after completing the descending wave (i), Pound has started a new correction. It looks like the pair is finishing the wave c in the zigzag (ii). Consequently, in the nearest future, the pair may resume moving downwards.




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen has finished the impulse in the wave [v], thus completing the wave C. So, the price may start growing and form the bullish impulse in the wave [i] or [a].



More detailed structure of the descending wave [v] is shown on the H1 chart. Later, the pair formed the impulse in the wave (i). During the day, after finishing the local correction, the market may start growing in the third wave.




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 has completed the wave (i). After finishing the local correction, the market may start falling in the third wave.



At the H1 chart, the wave (ii) has taken the form of the zigzag and the price has formed the descending impulse in the wave i. On Friday, after finishing the local correction, the market may start moving downwards in the wave iii of (iii).



 
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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.