Analysis for April 10th, 2014
EUR USD, “Euro vs US Dollar”
Probably, Euro finished ascending zigzag (D) of [B] and right now is forming final descending zigzag (E) of [B].
Probably, price finished (or is finishing) local ascending correction [ii] of A of (E), after which Euro may continue falling down.
Possibly, pair completed (or is completing) ascending correction [ii] of A or its first wave (a) of [ii], which may be followed by reverse downwards.
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 forming final ascending wave (v) of [c] of D. right now, price is expected to form descending correction iv of (v) of [c].
Possibly, price completed ascending impulse iii of (v), which may be followed by descending correction iv of (v).
USD CHF, “US Dollar vs Swiss Franc”
Probably, Franc completed descending zigzag D of (4) and right now is forming final ascending zigzag E of (4).
Probably, price finished impulse (i) of [a] of E of final ascending zigzag E of 4. Pair finished (or is finishing) local descending correction (ii) of [a] of E, after which instrument may continue moving upwards.
Possibly, price completed (or is completing) descending correction (ii) of [a] or its first wave a of (ii), which may be followed by reverse upwards.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is finishing long horizontal correction 4 of (A). If this assumption is correct, then after completing skewed triangle 4, price is expected to make final ascending movement inside wave 5 of (A).
Possibly, pair completed (or is completing) skewed triangle 4, which may be followed by final ascending wave 5.
Probably, price finished (or is finishing) descending double zigzag [e] of 4, which may be followed by final ascending wave 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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.