Admiral Markets - Analytics

Admiral Markets

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Daily Wave Analysis for 13 February 2015


4 hour EURUSD: the smaller triangle was finally broken and price is now approaching the resistance level (orange) of the bigger consolidation zone which is a bounce or break spot.


60 min EURUSD: due to the bullish price action the wave count has been changed to show a corrective structure.

GBPUSD


4 hour GBPUSD: the Cable has broken the long-term resistance trend line and price is heading towards the Fibonacci targets of the ABC (magenta) wave count for the moment.


60 min GBPUSD: a break of the minor resistance level (red) is needed before price can move up further.

USDJPY


4 hour USDJPY: the failure of the USDJPY to break above the horizontal resistance level (red) means that a contracting triangle formation (ABCDE-red) is the most likely wave count.


60 min USDJPY: within wave E (red) price will most likely make a bigger consolidation via a WXY (purple).



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