Forex forecasts and market outlooks

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10.04.2020

GBP/USD: wave analysis

The pair is in a correction, a fall is possible.

On the daily chart, the third wave of the higher level (3) of V develops, within which an upward correction forms as the wave 4 of (3). Now, the wave c of 4 is developing. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.1177–1.0687. In this scenario, critical stop loss level is 1.2738.

EUR/USD: wave analysis

The pair may grow.

On the 4-hour chart, the third downward wave of the higher level 3 develops, within which the first wave i of 3 formed. Now, an upward correction is developing as the second wave ii of 3, within which the wave (b) of ii has formed, and the wave (c) of ii is developing. If the assumption is correct, the pair will grow to the levels of 1.1170–1.1241. In this scenario, critical stop loss level is 1.0768.

09.04.2020

Initial Jobless Claims. United States, 14:30 (GMT+2)

At 14:30 (GMT+2), weekly data on the number of initial unemployment claims in the United States will be released. The indicator reflects the number of people who applied for unemployment benefits for the first time in the past week. These data are collected by the Ministry of Labor and published in a weekly report. The number of applications for benefits is used to measure the state of the labor market since an increase means fewer people are hiring. The indicator is expected to decline from 6.648 million to 5.250 million.