Admiral Markets - Analytics

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EUR/USD and GBP/USD Rally Continues at Fibonacci Levels

EUR/USD

4 hour

The EUR/USD posted another bullish daily candle yesterday after Tuesday's bug surge.

1 hour

The EUR/USD completed the wave 4 (orange) at the usual 38.2% Fibonacci retracement level (for waves 4) and is now moving to higher levels as part of the wave 5 (orange).

GBP/USD

4 hour

The GBP/USD seems to have completed the ABC zigzag (blue) and could be building a base for a rally as part of wave Y (grey).

1 hour

The GBP/USD made a deep pullback yesterday but price action did not enter in the territory of wave 1 (magenta) which means that the wave count can still be labeled as a potential 4 and 5 (magenta). One of the alternatives is an ABC zigzag formation.

USD/JPY

4 hour

The USD/JPY has stayed above support levels (blue and green) and remains anchored in an uptrend.

1 hour

The USD/JPY could be building a base and a consolidation for another push higher as part of wave 5.



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