Best Forex Brokers – Forex Wave analysis and forecast for 15.04 – 22.04.2016
EUR/USD: Wave analysis and forecast for 15.04 – 22.04: The pair is undergoing correction. Uptrend continues.
Estimated pivot point is at the level of 1.1140.
Our opinion: Buy the pair above the level of 1.1140 with the target of 1.16 – 1.1750.
Alternative scenario: Breakout and consolidation of the price below the level of 1.1140 will allow the pair to continue to decline to 1.1050 – 1.0820.
Analysis: Presumably, the formation of the third wave 3 of the senior level continues, in which the extension is likely to be formed. At the moment, it seems that the local correction as the wave ii of (iii) is nearing completion. If this assumption is correct, in the near future the pair will continue to rise up to 1.16 – 1.1750. Critical level for this scenario is 1.1140. In case of breakout of this level the pair will continue to decline to 1.1050 – 1.0820.
GBP/USD: Wave analysis and forecast for 15.04 – 22.04: Downtrend continues.
Estimated pivot point is at the level of 1.4352.
Our opinion: Sell the pair from correction below the level of 1.4352 with the target of 1.36 – 1.34.
Alternative scenario: Breakout and consolidation of the price above the level of 1.4352 will enable the pair to continue the rise up to the level of 1.46 – 1.47.
Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the third wave iii of 5 is being developed, within which correction as the wave (ii) has completed and the third wave is being formed (iii). If this assumption is correct, the pair will continue to decline to 1.36 – 1.34. Critical level for this scenario is 1.4352.
USD/CHF: Wave analysis and forecast for 15.04 – 22.04: The pair is likely to grow within correction.
Estimated pivot point is at the level of 0.9489.
Our opinion: Buy the pair from correction above the level of 0.9489 with the target of 0.99 – 1.00.
Alternative scenario: Breakout and consolidation of the price below the level of 0.9489 will allow the pair to continue decline to 0.93 – 0.92.
Analysis: Presumably, the formation of the wedge, as the first wave i of C on the daily time-frame, has completed. At the moment upward correction as the wave ii of C is developing, within which the first one-two wave (a) of ii is being formed. If this assumption is correct, the pair will continue to rise up to 0.99 – 1.0. Critical level for this scenario is 0.9489.
USD/JPY: Wave analysis and forecast for 15.04 – 22.04: The pair is undergoing correction. A chance of decline remains.
Estimated pivot point is at the level of 110.72.
Our opinion: Sell the pair from correction below the level of 110.72 with the targets of 106.60 – 106.00.
Alternative scenario: Breakout and consolidation of the price above the level of 110.72 will trigger rise in the pair up to the levels of 114.00 – 116.00.
Analysis: Presumably, the formation of the downward impetus continues in the third wave of the senior level. At the moment it is likely that the fifth wave (v) of iii is being formed, within which the third wave of the junior level iii of (v) has completed and the correction as the fourth wave iv of (v) is developing. If this assumption is correct after the completion of the correction the pair will continue to decline to the level of 106.60.
USD/CAD: Wave analysis and forecast for 15.04 – 22.04: Downtrend continues.
Estimated pivot point is at the level of 1.29.
Our opinion: Sell the pair from correction below the level of 1.29 with the target of 1.27 – 1.26.
Alternative scenario: Breakdown and consolidation of the price above the level of 1.29 will enable the pair to continue the rise up to 1.31 – 1.32.
Analysis: Presumably, the formation of the downward impetus continues in the wave A. At the moment it seems that the fifth wave is being formed v of A, within which the third wave (iii) as an impetus is developing. If this assumption is correct, and the price does not break out the critical level of 1.29, the pair will continue to decline to the levels of 1.27 – 1.26.
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The analytical materials are provided by Aleksander Geuta, a trader and analyst of LiteForex |
