Wave Analysis 08.04.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

08.04.2015

Analysis for April 8th, 2015

EUR USD, “Euro vs US Dollar”

Probably, Euro is forming wave (d) of [iv] of 3 of horizontal triangle[iv] of 3. After finishing this pattern, the market may continue falling inside wave [v] of 3.



Probably, the pair has finished wave (c) of [iv] of 3 and right now is forming zigzag inside wave (d) of [iv] of 3 (it has only one wave completed so far, a of (d) of [iv]). In the nearest future, the market is expected to complete zigzag inside wave (d) of [iv] of 3.




GBP USD, “Great Britain Pound vs US Dollar”

Pound has started a steady descending movement inside wave (iii) of [iii] of 3. Most likely, in the nearest future, the pair may form a fast extended impulse inside wave [iii] of 3 and reach new local lows.



The structure of the current descending movement isn’t quite clear yet, but probably the pair is forming impulse i of (iii) of [iii], which may be followed by a short-term local correction inside wave ii of (iii) of [iii].




USD JPY, “US Dollar vs Japanese Yen”

The critical level hasn’t been broken; the price grew very fast inside wave (i) of [iii] of 3 and then started a short-term correction inside wave (ii) of [iii] of 3. In the nearest future, Yen is expected to finish the correction and start growing inside wave (iii) of [iii] of 3.



Most likely, the pair has completed wave (i) of [iii] of 3 and right now is from wave (ii) of [iii] of 3 in the form of zigzag. In the nearest future, the price is expected to complete this descending zigzag inside wave (ii) of [iii] of 3.




USD CAD, “US Dollar vs Canadian Dollar”

The price is still very close to the critical level but showing no signs of a possible growth. The main scenario remains the same: in the nearest future, the market is expected to move upwards inside wave (3) of [5] of iii.



The ascending movement made by the price from the previous local low at 1.2429 may be considered as wedge, but this scenario will be confirmed only after the pair stays above the confirming level (crimson line). The situation is quite unclear.



 
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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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