Admiral Markets - Analytics

    Admiral Markets

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    Real

    Sluggish Forex Market Builds Tough S&R Levels

    EUR/USD

    4 hour


    The EUR/USD wave count is very vulnerable to change with the lingering insecurity of any euro zone news.

    1 hour

    Price has stopped at the 50% Fibonacci level of the wave A (blue), which had a strong impulse. A potential wave C could take place if price break above resistance.

    GBP/USD

    4 hour

    The GBP/USD attempted to make a bullish break but eventually it reversed back to the mean. Price remains in between clear wedge lines.

    1 hour

    The range resistance (orange and later on red) will need to be broken before the uptrend can continue. A break below support invalidates this count.

    USD/JPY

    4 hour

    The USD/JPY has bounced at the support level around 122 (green lines). A break above red is needed before the correction (wave Ys) can be considered completed.

    1 hour

    The USD/JPY is in a short-term range which is defined by the long-term support (green) and intra-week resistance (orange).


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