Wave analysis of EURUSD, GBPUSD, USDJPY on April 05.
Most likely, at the moment the market forms the initial part of the upward correction wave (B), which can take the form of any correction model, and is the second part of the zigzag [Z], consisting of three waves. Thus, in the next trading day, a correction rise of the currency pair is likely within the specified wave. It should be noted that today at 19: 30 Moscow time will be published an important macroeconomic statistics - the number of primary applications for unemployment benefits in the US, the market usually moves during the release of such news is fast enough, so we can see a sharp jump in prices in the evening. And since a correction wave is forming, the currency pair can move up and down, marking time. In such a market one should be careful.
Most likely, the currency pair continues to form the initial part of the upward combination of zigzags (w)-(x)-(y)-(x)-(z). The current scenario for the near future is still upward. Apparently, soon we will see the first bullish impulses, which will begin to pull the market in an upward direction. Today, we should pay attention to the publication at 15:30 PMI index for the service sector in the UK. During the release of this news, the market movement may accelerate. There is a high probability that at this moment the bulls will be able to move the market from the place and start pushing the price up.
The Japanese yen continues to develop the expected initial part of the uptrend. Apparently, we have seen a fully completed downward correction wave (2), and in the last section the market is moving within the new initial pair of pulse waves 1 and 2. Most likely, after a small rise will be built correction 2, after which market growth will be resumed. Thus, the main scenario for the price movement is upward.
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