Admiral Markets - Analytics

    Admiral Markets

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    Daily Wave Analysis for 18 February 2015

    4 hour EURUSD: it is very usual for fourth waves to last long. The invalidation level for wave 4 is at the end of wave 1 which for the current wave 4 (purple) means the red line.

    60 min EURUSD: yesterday price indeed bounced back up as part of a wave B (magenta).


    4 hour GBPUSD: for the moment the wave count is marked as corrective but the bullish wave count is vulnerable to change depending on whether price breaks below support or continues to higher Fibonacci targets.

    60 min GBPUSD: a small triangle is present which is indicated by the red and green trend lines.


    4 hour USDJPY: the USDJPY is most likely building a contracting triangle formation (ABCDE-red) where E finishes at one of the Fibonacci levels.

    60 min USDJPY: within the triangle the USDJPY is most likely making a WXY (purple) bearish correction and price could have stopped at the 50% Fibonacci of wave X.

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