Wave Analysis 18.04.2012 (NZD/USD, EUR/USD)

18.04.2012

Analysis for April 18th, 2012

NZD/USD

The price completed forming an initial descending impulse in wave (1), and then the correction started. Most likely, the second wave will be finished within the next couple of days. After that we can expect the pair to start falling down while forming wave (3).



As we can see at the H1 chart, the price completed an initial impulse in wave (1), and right now is forming an ascending zigzag pattern in wave (2). In the near term, we can expect the pair to move upwards for a while, however, after that the market may make a reverse downwards.


EUR/USD

After finishing a bearish impulse in wave (1), the market is being correction. It looks like the second wave is taking the form of zigzag pattern. In the near term the correction may continue for a while, but then we can expect Euro to start falling down in wave (3).



More detailed wave structure is shown on the H1 chart. It looks like the price is forming horizontal triangle pattern in wave B. The correction may be finished on Wednesday and then the price may grow up a little in wave C of (2).


Attention!

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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question