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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 18.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
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Wave Analysis 18.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)


Forecast for April 18th, 2016

EUR USD, “Euro vs US Dollar”

Probably, last week Eurodollar completed the wave 2 in the form of the double zigzag. On the minor wave level, the par finished the diagonal triangle in the wave c of (y). Possibly, right now the price is forming the descending impulse (i) of (a), which may continue during the day.

More detailed structure is shown on the H1 chart. It looks like last Friday the price completed the wave ii in the form of the double zigzag and then the wave [1]. Consequently, after finishing the local correction, the market may resume its decline.

GBP USD, “Great Britain Pound vs US Dollar”

Pound may yet continue forming the extension in the wave [iii]. On the minor wave level, after finishing the wave (ii), the market is trying to continue falling in the wave (iii). Possibly, on Monday the pair may break the minimum of the wave (i).

As we can see at the H1 chart, after finishing the zigzag in the wave (ii), Pound has started forming the descending impulse in the wave (iii). Right now, the pair is about to start falling in the wave [3] of iii. In the nearest future, the market may break the minimum of the wave [1].

USD JPY, “US Dollar vs Japanese Yen”

The correctional wave (ii) was very fast, which means that the bullish scenario may be changed. However, the pair hasn’t broken the minimum of the wave [v] of C, that’s why the main scenario still implies the growth in the wave (iii).  

More detailed structure is shown on the H1 chart. Probably, the price has completed the descending zigzag in the wave (ii). if later the market forms the bullish impulse in the wave i, Yen will start a new ascending movement in the wave (iii).

AUD USD, “Australian Dollar vs US Dollar”

It looks like the market has finished the ascending impulse [с] of 4. Probably, last week the market completed the wave (v) and later may start falling in the bearish impulse of the wave (i).

At the H1 chart, yesterday after completing the ascending impulse in the wave (v) of [c] Australian Dollar is forming the wave iii of the descending impulse. It’s highly likely that on Monday the pair may continue moving downwards.

RoboForex Analytical Department

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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.