Forecast for April 28th, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the main scenario is still bearish. It looks like the price is forming the descending
wedge in the wave
(i). On the minor wave level, the pair may complete the fourth wave and start a new descending movement in the wave
v of (i).
It looks like the current correction is taking the form of the
double zigzag. Earlier, Eurodollar formed the descending impulse in the wave
iii. On Thursday, the market may reach a new high and then try to resume falling.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound has completed the wave
[y] of 4. On the minor wave level, the pair is forming the descending impulse in the wave
(i). In the nearest future, the market may continue moving downwards.
As we can see at the H1 chart, there is the
extended fifth wave in the impulse
(c), after which the market started forming the bearish wave
i. It’s highly likely that during the day Pound nay break yesterday’s low.
USD JPY, “US Dollar vs Japanese Yen”
Being influenced by the news, Yen has started falling. Probably, the price is forming the
diagonal triangle in the wave
[v] of C. In the nearest future, the market may continue moving downwards in the wave
(iii) and break the minimum of the wave
(i).
At the H1 chart, the impulse in the wave
c of (ii), which earlier was thought to be the third wave, turned out to a bit “rushed”. Probably, Yen is completing the wave
i. In the nearest future, the market may start a new correction in the wave
ii.
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
flat4. 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.
As we can see at the H1 chart, the pair is about to complete the fourth wave in the wave
(i). It’s highly likely that in the nearest future, the market may start falling in the wave
v of (i) and break yesterday’s low.
RoboForex Analytical Department