Admiral Markets - Analytics

    Admiral Markets

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    EUR/USD's Bullish Momentum Pushes Daily Candle by 300 Pips

    EUR/USD

    4 hour

    The EUR/USD broke the wedge to the upside as expected in yesterday's wave analysis, which is most likely part of wave C (magenta).

    1 hour

    The EUR/USD wave count required a very impulsive bullish breakout to confirm the multiple waves 1-2, which was confirmed by yesterday's bullish price action and break. Price could still be in wave 3 (orange) after which a correction for wave 4 (orange) could occur.

    GBP/USD

    4 hour

    With the bullish break of the first resistance (orange), the GBP/USD keeps could have completed the wave X (grey) although some layers of resistance remain critical such as the red resistance line.

    1 hour

    The GBP/USD broke the top of the downtrend channel (orange trend line) and is showing bullish momentum similar as the EUR/USD.

    USD/JPY

    4 hour

    The USD/JPY has not managed to break above the psychological round level of 125 and wave 5 (magenta) has been temporarily marked as completed. The wave count however is vulnerable to change once the USD/JPY shows potential for another bullish bounce.

    1 hour

    The USD/JPY is at a break or bounce spot within the uptrend channel (blue).


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