Forecast for April 12th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. It’s highly likely that the price is forming the diagonal triangle
in the wave c of (y)
. In the nearest future, after finishing the pattern, the market may reverse downwards.
More detailed structure is shown on the H1 chart. It looks like yesterday Eurodollar completed the third wave in the diagonal triangle.
After finishing the local correction, the market may grow for a while in the wave  of c
. If later the price rebounds from the pattern’s upside border, it may resume moving downwards very fast.
GBP USD, “Great Britain Pound vs US Dollar”
The main scenario remains the same as the price continues forming the extension
in the wave [iii]
. Earlier, the market completed the wave 4
in the form of the zigzag
. Consequently, in the nearest future the pair may finish the local correction and resume its decline.
As we can see at the H1 chart, after completing the wave v of (i)
, Pound has started a new correction. Probably, right now the pair is finishing the descending impulse c
in the zigzag (ii)
. On Tuesday, the market may complete this wave and resume moving downwards.
USD JPY, “US Dollar vs Japanese Yen”
Yen is about to finish the long descending impulse in the wave C
. Earlier, the price completed the wave [iv]
in the form of the triangle
, and then started falling in the wave [v]
. On the minor wave level, the market is about to finish the wave (v)
, which may be followed by a new ascending movement.
As we can see at the H1 chart, the wave (v) of [v]
is taking the form of the diagonal triangle
. On the minor wave level, after finishing the intraday correction, the market may fall in the wave iii
and break the local low.
AUD USD, “Australian Dollar vs US Dollar”
It looks like the market continues forming 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)
. During the day, Australian Dollar may break its previous high.
As we can see at the H1 chart, 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 iii
during the day.
RoboForex Analytical Department
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