Wave analysis of EURUSD, GBPUSD, USDJPY on April 06.
The market continued to build a downward zigzag wave [Z]. In connection with the formation of a downward wave for the previous trading day, it became clear that the construction of a bullish correction (B) was already totally completed. In this connection, we can propose that now we see the construction of a finite diagonal (C), the internal structure of which is shown in the graph. If this hypothesis is correct, correction of 4 will be completed in the first half of the day, then the downward movement will continue. It should be borne in mind that today a number of important macroeconomic data will be published in the US, in particular the unemployment rate at 16:30 GMT Time and the number of people employed in the non-agricultural sector at the same time. If we really see the construction of a finite diagonal now, then during the release of these news, the construction of the diagonal can be completed, and the market can shoot in the ascending direction. In the past, this has happened repeatedly, so you should bear this in mind.
In connection with the construction of a rather sharp downward wave, the previous mark was revised. It became clear that the global corrective wave (X) had not yet been completed, and within the framework of this wave, a downward combination of Y-zigzags is currently developing. It is possible that after building a small bullish correction (B) in the near future, the market movement will continue downward momentum (C). The movement of the currency pair will also be influenced by important macroeconomic statistics, which will be published today in the US. And still need to pay attention that today at 19:15 GMT Time will speak with the Governor of the Bank of England Mark Carney. Against the background of strong news, we can see quite strong moves on this currency pair.
Formation of the initial part of the uptrend continues. It is likely that we saw the completion of another upward impulse 1, and now there is a development of a downward correction to it. 2. Thus, today we are expecting a local corrective decline, which can be stopped during the publication of news in the US. It is recommended to trade very carefully in today's news-packed day.
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