Admiral Markets - Analytics

    Admiral Markets

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    USD Bounces at Resistance and Continues with its Corrective Shape


    4 hour

    Price indeed bounced at the 78.6% of the wave X (retracement) of the FOMC bullish momentum (indicated as wave W orange).

    1 hour

    A bullish zigzag (ABC magenta) could occur within Wave Y (orange).


    4 hour

    Currently an ABC (blue) zigzag correction is probably the most likely wave explanation with wave C (blue) targets above.

    1 hour

    Price has bounced at the 88.6% Fibonacci support when placing a retracement on the bullish spike during FOMC.


    4 hour

    Price bounced at the wave X (magenta) resistance as part of a potential bigger wave 4 (dark red).

    1 hour

    A bigger WXY (magenta) correction could be expected after the bearish momentum during the FOMC statement.

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