Admiral Markets - Analytics

    Admiral Markets

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    EURUSD and GBPUSD in Wave 4 Consolidations before FOMC Statement


    4 hour EURUSD: the EURUSD still remains in a downtrend despite the sideways consolidation of the wave 4 (green). A break on the lower time frames could indicate the begin of wave of wave 5 (green)


    60 min EURUSD: a break below the channel could indicate such a start of the wave 5 (green).

    GBPUSD


    4 hour GBPUSD: the GBPUSD used the broken monthly bottom (dotted green) as a resistance point.


    60 min GBPUSD: a break below the current bottom at 1.47 could confirm that price is in the wave 5 (green).

    USDJPY


    4 hour USDJPY: a contracting wedge is being built on the 4 hour chart which is represented by a support trend line (green) and a resistance trend line (red).


    60 min USDJPY: a break above the next resistance level (orange) could offer the potential for price to move up towards the Fibonacci targets but a break below seems limited due to support levels close by (dark green & dotted red lines).


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