Admiral Markets - Analytics

    Admiral Markets

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    US Dollar Pushes Forward in Strong & Impulsive Uptrend


    4 hour EURUSD: the momentum is both continuous and strong, which are typical characteristics of a wave 3 (in this case dark green wave 3).


    60 min EURUSD: within wave 3 (dark green), price is expanding the internal waves with 5 waves (magenta) within wave 3 (blue). Wave 4 and 5 (blue) would then complete wave 3 (dark green),

    GBPUSD


    4 hour GBPUSD: whether the bearish price movement is indeed corrective remains to be seen and will partly depend on whether price will break below the 100% Fibonacci level or above resistance.


    60 min GBPUSD: one of the key factors is the first resistance line (yellow orange).

    USDJPY


    4 hour USDJPY: the next major resistance level is at 124 which is a monthly top (red).


    60 min USDJPY: the internal wave count is vulnerable to change if the current wave 3 (blue) does not move up quickly enough. In that case the wave 1-2 of blue will become wave 3 and 4 of purple. 


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