Forecast for April 27th, 2016
EUR USD, “Euro vs US Dollar”
After finishing the diagonal triangle
in the wave c of (y)
, Eurodollar is trying to resume its decline. Probably, the price is forming the extension
in the wave iii
. Consequently, in the nearest future the market may start a new descending movement.
More detailed structure is shown on the H1 chart. After finishing the wave ii
in the form of the double zigzag
, Eurodollar has formed the bearish impulse in the wave 
. In the nearest future, the market may complete the local correction and start falling in the wave 
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the main scenario remains bearish, but the price must complete the wave (c) of [y]
and form another descending impulse to confirm it.
As we can see at the H1 chart, Pound may be forming the extension
in the fifth wave of the impulse (c)
. At the same time, there is a possibility that the pair may form a larger impulse with the extension
in the third wave, which means that the correction may move to the H4 chart. Consequently, to confirm this bearish scenario, Pound must form the descending wave i
USD JPY, “US Dollar vs Japanese Yen”
In case of Yen, the mains scenario is still bullish. It looks like after completing the long descending impulse in the wave C
, the price is forming the extension
in the wave (iii)
. In the nearest future, after finishing the current correction, the market may resume moving upwards and break its local high.
At the H1 chart, yesterday the pair finished the wave 
. On the minor wave level, Yen has formed the bullish impulse in the wave  of iii
. Consequently, the pair may continue growing and reach a new local high.
AUD USD, “Australian Dollar vs US Dollar”
The chart structure implies that Australian Dollar has finished the ascending impulse, which may be the wave [c]
inside the flat 4.
On the minor wave level, the pair is probably forming the descending impulse in the wave (i)
. In the nearest future, the market may continue falling.
More detailed structure is shown on the H1 chart. It looks like yesterday the pair completed the wave ii
and started falling in the third wave. On Wednesday, the current descending movement may yet continue.
RoboForex Analytical Department
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