Forecast for April 5th, 2016
It looks like Eurodollar is about to finish the wave 2 of the larger diagonal triangle. On the minor wave level, the market is completing the bullish impulse in the wave (c), which may be followed by a new descending movement in the wave [i].
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, after finishing the descending wave (i), the market was moving inside the flat for a while. Right now, the pair is falling in the wave (iii) and may break the local minimum during the day.
GBP USD, “Great Britain Pound vs US Dollar”After finishing the wave 4, the price has formed the bearish impulse in the wave [i] and the ascending correction. On Tuesday, the pair may continue moving inside the intraday flat, which may be followed by another decline in the wave [iii].
More detailed structure is shown on the H1 chart. Probably, Pound is extending the wave (iii) and right now is starting falling in the wave iii. During the day, the price may break the minimum of the wave i.
USD JPY, “US Dollar vs Japanese Yen”Yen is back to the bearish scenario. Possibly, the price is forming the third wave in the wave C, which is taking the form of the diagonal triangle. On Tuesday, the pair may complete the wave (iii) and start a new local correction.
At the H1 chart, Yen is forming the descending impulse c in the wave (iii). Earlier, the pair finished the horizontal triangle in the wave b, which was followed by another decline of the price. During the day, the market may continue falling.
AUD USD, “Australian Dollar vs US Dollar”Probably, the market is about to finish the bullish impulse [с] in the flat 4. On the minor wave level, Australian Dollar has completed the wave (v) and may start forming a new bearish impulse.
At the H1 chart, the wave v of (v) turned out to be truncated. Later, Australian Dollar finished the bearish impulse in the wave i. On Tuesday, after finishing the local correction, the market may resume its decline in the wave iii of (i).
RoboForex Analytical Department
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