Wave Analysis 06.04.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

06.04.2015

Analysis for April 6th, 2015

EUR USD, “Euro vs US Dollar”

Euro continues moving sideways. Right now, the price is forming horizontal triangle inside wave [iv] of 3, after which the market may continue falling inside wave [v] of 3.



Most likely, the pair has formed zigzag(c) of [iv] of 3. In the nearest future, the market is expected to form zigzags inside waves (d) of [iv] of 3 and (e) of [iv] of 3.




GBP USD, “Great Britain Pound vs US Dollar”

The price is still forming a possible correction inside wave (ii) of [iii] of 3. Most likely, in the nearest future, the pair will continue moving downwards inside wave (iii) of [iii] of 3.



Probably, the correction inside wave (ii) of [iii] of 3 hasn’t completed yet. Nevertheless, the pair is moving below the critical level and the main scenario remains the same: the price is expected to continue falling inside wave [iii] of 3.




USD JPY, “US Dollar vs Japanese Yen”

The correction inside wave [ii] of 3 of (5) turns out to be deeper. The pair is still moving above the critical level, which means that the main scenario remains the same so far.



Most likely, the correction inside wave [ii] of 3 of (5) has taken the form of double zigzag. However, the assumption that it has already finished isn’t confirmed yet. In the nearest future, the price is expected to complete this correction and start a fast ascending movement inside wave [iii] of 3 of (5).




USD CAD, “US Dollar vs Canadian Dollar”

The price is very close to the critical level, but is not breaking it. Most likely, in the nearest future, the pair is expected to start growing inside wave (3) of [5] of iii. If the price breaks the critical level, the main scenario will be changed, making the structure of wave [4] of iii more complicated.



The correction inside wave (2) of [5] of iii has turned out to be deeper and more complicated and taken the form of double zigzag, which may be followed by a new ascending movement inside wave (3) of [5] of iii. We will be more sure about the start of this ascending movement only after the price stays above the confirming level.



 
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.

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