Admiral Markets - Analytics

    Admiral Markets

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    Daily Wave Analysis for 19 February 2015


    4 hour EURUSD: the EURUSD so far has not able to break out of the triangle. A bearish break could indicate the start of wave 5 (purple) whereas a bullish break probably signals the continuation of wave Y (green) of wave 4 (purple).


    60 min EURUSD: the triangle could see another expansion today after which  the wave x (magenta) would move to a new bottom.

    GBPUSD


    4 hour GBPUSD: the bullish price action is building a rising wedge chart pattern via support (dark green) and resistance (orange) trend lines.


    60 min GBPUSD: price stopped at the 61.8% Fibonacci target and would require a break above resistance (orange) before price can reach higher targets.

    USDJPY


    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: the USDJPY has completed or still will complete a corrective wave X (purple) before completing the wave E (red).


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