Admiral Markets - Analytics

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    FOMC Statement Causes Massive USD Weakness Movement


    4 hour EURUSD: the big bullish burst could indicate the completion of the wave 3 (light green) and the start of a bigger correction (orange).


    60 min EURUSD: a retracement could be part of the wave X (orange).

    GBPUSD


    4 hour GBPUSD: the FOMC statement also caused massive USD weakness against the GBP as the Cable moved up nearly 600 pips from the bottom. An ABC (blue) zigzag correction seems the most likely scenario for the moment with wave C (blue) Fibonacci levels as the main targets.


    60 min GBPUSD: wave 5's (blue and green) seem to be complete and price could be now in wave B (blue) of a bigger bullish zigzag.

    USDJPY


    4 hour USDJPY: also on the USDJPY a bigger wave 3 (dark red) could have been completed.


    60 min USDJPY: a bigger WXY (magenta) correction could be expected after the bearish momentum during the FOMC.


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