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20.04.202609:43 Forex Analyse & Reviews: Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold – April 20th

Relevance up to 08:00 2026-04-24 UTC--4

EUR/USD

Analysis:

Since April last year, the euro's quotes in its main pair have been forming a downward wave. Within this wave, the final segment (C) is developing, inside which an intermediate correction is forming. The pair is currently near the lower boundary of a strong potential reversal zone.

Forecast:

In the coming days, a generally sideways movement is expected for the euro. After a likely rise and rebound from the resistance zone, a reversal and the beginning of a decline in the pair are expected. When the direction changes, a brief breakout above the upper boundary of the zone cannot be ruled out. Increased volatility can be expected closer to the weekend.

Exchange Rates 20.04.2026 analysis

Potential Reversal Zones

Resistance:

  • 1.1840 / 1.1890

Support:

  • 1.1650 / 1.1600

Recommendations:

Buy: No suitable conditions for buying at the moment.Sell: May become the main trading direction after confirmed signals appear near the resistance zone.

USD/JPY

Analysis:

Since the end of January this year, the Japanese yen has been strengthening against the US dollar. The latest unfinished corrective segment on the chart has been developing since March 30. The pair is moving along the lower boundary of a cluster of reversal levels of different scales.

Forecast:

Over the coming week, continued sideways movement is expected. In the near term, a downward movement is more likely, with price declining toward the support zone. Toward the end of the week, price growth may begin. The upper boundary of the weekly range is defined by the calculated resistance zone.

Exchange Rates 20.04.2026 analysis

Potential Reversal Zones

Resistance:

  • 159.90 / 160.40

Support:

  • 157.80 / 157.30

Recommendations:

Buy: Relevant after confirmed reversal signals appear near the support zone.Sell: Possible within individual sessions with reduced volume; potential is limited by support.

GBP/JPY

Analysis:

Since February, the short-term direction of the British pound/Japanese yen pair has been defined by an upward wave. Last week, the price rebounded from a major resistance level and began forming an intermediate correction along it. As of the analysis, this structure (from April 12) is not yet complete.

Forecast:

In the first half of the week, a short-term decline is possible, potentially reaching support levels. This should be followed by a reversal and a change in direction. Increased activity and renewed growth are expected toward the end of the week.

Exchange Rates 20.04.2026 analysis

Potential Reversal Zones

Resistance:

  • 215.50 / 216.00

Support:

  • 213.50 / 213.00

Recommendations:

Sell: Risky, with low potential.Buy: Can be considered after confirmed signals appear near the support zone.

USD/CAD

Analysis:

Since late January, an upward zigzag wave has been forming on the chart of the Canadian dollar's main pair. Within the still-unfinished correction segment (B), an intermediate pullback has been forming over the past two weeks. The support zone lies at the upper boundary of a broad potential weekly reversal area.

Forecast:

Over the coming week, the downward movement is expected to complete within a price corridor between nearby opposing zones. A downward bias is more likely in the early days. By the end of the week, a reversal and upward movement may begin.

Exchange Rates 20.04.2026 analysis

Potential Reversal Zones

Resistance:

  • 1.3790 / 1.3840

Support:

  • 1.3650 / 1.3600

Recommendations:

Sell: Limited potential and may lead to losses.Buy: Relevant after confirmed signals appear near the reversal zone.

NZD/USD

Analysis:

Since last spring, the main trend in the New Zealand dollar pair has been driven by an upward wave. Since the end of January, a counter wave structure has been developing, which remains unfinished. The middle segment (B) is nearing completion. The price has reached the lower boundary of a strong higher-timeframe reversal zone.

Forecast:

At the beginning of the week, an upward movement is expected. Pressure on the resistance zone is possible, including a brief breakout above it. Afterward, a reversal and downward movement are likely.

Exchange Rates 20.04.2026 analysis

Potential Reversal Zones

Resistance:

  • 0.5940 / 0.5990

Support:

  • 0.5800 / 0.5750

Recommendations:

Buy: Low potential and may result in losses.Sell: Relevant after confirmed reversal signals appear near resistance.

Gold

The bullish wave that began in late March on the larger timeframe is completing an irregular shifting correction. After breaking a minor resistance level, gold has moved into a drifting phase around the 48th price figure. The calculated resistance lies along the lower boundary of a strong daily reversal zone.

Forecast:

At the start of the week, sideways movement is expected along the support zone, with possible pressure on its lower boundary. In the second half of the week, a reversal and renewed upward movement are likely. The upper boundary of the expected weekly range is defined by the resistance level.

Exchange Rates 20.04.2026 analysis

Potential Reversal Zones

Resistance:

  • 4980.0 / 5000.0

Support:

  • 4800.0 / 4780.0

Recommendations:

Sell: Low potential and may be risky.Buy: Premature until clear reversal signals appear.

Notes: In simplified wave analysis (SWA), all waves consist of three parts (A–B–C). The most recent unfinished wave is analyzed on each timeframe. Dotted lines indicate expected movements.

Attention: The wave algorithm does not account for the duration of price movements over time.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Isabel Clark,
Analytical expert of InstaSpot
© 2007-2026
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