Wave Analysis 25.04.2012 (NZD/USD, EUR/USD)

25.04.2012

Analysis for April 25th, 2012

NZD/USD


After completing long zigzag pattern in wave [2], the price formed an initial descending impulse. It looks like the local correction has also been finished. In the near term, we can expect the price to start falling down while forming wave (3).



As we can see at the H1 chart, the price has finished a descending wedge pattern in wave (1). The second wave has been completed in the form of flat pattern. During the next several days the price may start falling down again while forming wave 1.


EUR/USD

We may assume that the pair is finishing wave (2), which is taking the form of double zigzag pattern. On the minor wave level the price has completed horizontal triangle pattern in wave X. In the near term, we can expect the correction to be finished, and then the price to start falling down again.



More detailed wave structure is shown on the H1. After finishing triangle pattern in wave X, the price started forming zigzag pattern in wave Y of (2). Most likely, in the nearest future Euro will make a reverse and start moving downwards.


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.

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