Wave Analysis 22.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
22.04.2016
Forecast for April 22nd, 2016
EUR USD, “Euro vs US Dollar”
Probably, yesterday the price completed the wave ii and may start falling in the wave iii. Earlier, after finishing the diagonal triangle in the wave c of (y), the pair formed the bearish impulse in the wave i. It’s highly likely that on Friday, the market may resume its decline.
More detailed structure is shown on the H1 chart. It looks like the wave ii took the form of the double zigzag and was followed by the descending impulse in the wave [1]. In the nearest future, after finishing the local correction, the market may start falling in the wave [3] of i.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound has completed the double zigzag in the wave [ii]. Earlier, the price formed the wedge in the wave [i]. Consequently, the market may start falling in the third wave after it forms the bearish impulse in the wave (i).
As we can see at the H1 chart, yesterday Pound finished the wave c of (y) and the bearish impulse in the wave i. The local correction may yet continue for a while, but later the market may start moving downwards in the wave iii.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues growing in the wave (iii) and has already broken local highs. Earlier, after finishing the bearish impulse in the wave C, the price formed the ascending impulse in the wave (i). It’s highly likely that in the nearest future the market may continue moving upwards.
More detailed structure is shown on the H1 chart. After finishing the wave (ii) in the form of the zigzag, the pair formed the ascending impulse in the wave i. In the future, the market may continue forming the bullish extension in the wave (iii).
AUD USD, “Australian Dollar vs US Dollar”
Probably, Australian Dollar has finished the ascending impulse in the wave [c] of 4. Consequently, in the nearest future the market may form the bearish impulse in the wave (i), thus starting a descending correction, at least.
As we can see at the H1 chart, the wave v of (c) was quite short. Later, the market formed the descending impulse in the wave i and may start falling. After finishing the local correction, the price may start forming the bearish wave iii of (i).
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.