Analysis for April 22nd, 2014
EUR USD, “Euro vs US Dollar”
Probably, Euro is finishing diagonal triangle [v] of C of (D) of ascending zigzag (D) of [B], which may be followed by final descending zigzag (E) of [B].
Probably, price is forming final ascending zigzag (v) of [v] of C of (D). Right now, price is finishing descending correction b of (v) of [v] of C of (D).
Possibly, pair is completing local descending correction b of (v) in the form of zigzag, which may be followed by ascending wave c of (v).
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is completing final wedge [c] of D of ascending zigzag D of (B) with extension in its first wave (i) of [c]. After completing zigzag D of (B), price is expected to start final descending zigzag E of (B).
Probably, pair is finishing final ascending impulse (v) of [c] of D. Right now, price is forming local descending correction iv of (v) of [c].
Possibly, price is finishing local descending correction iv of (v). However, this assumption hasn’t been confirmed yet, and pair may have already started forming ascending wave v of (v).
USD CHF, “US Dollar vs Swiss Franc”
Probably, Franc is completing diagonal triangle (v) of [c] of D of descending zigzag D of (4), which may be followed by final ascending zigzag E of (4).
Probably, price is forming final descending zigzag v of (v) of [c] of D. Pair is completing local ascending correction [B] of v, which may be followed by descending wave [C] of v.
Possibly, pair is finishing ascending correction [B] of v in the form of zigzag, which may be followed by descending impulse or diagonal triangle [C] of v.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen finished long horizontal correction 4 of (A). In this case, price is expected to start final ascending movement inside wave 5 of (A).
Possibly, pair completed skewed triangle 4 and started forming final ascending wave 5.
Probably, price started final ascending wave 5; pair has already finished diagonal triangle [i] of 5. In this case, later price is expected to complete local descending correction [ii] of 5 and then continue growing up inside wave [iii] of 5.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold price sits at all-time highs above $2,230, US PCE eyed
Gold price hit all-time highs at $2,236 on Thursday to finish Q1 2024 with a bang. Most major world markets, including the US are closed due to Holy Friday, leaving volatility around Gold price highly subdued. US PCE inflation and Powell are awaited.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.