Admiral Markets - Analytics

    Admiral Markets

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    EUR/USD at Crucial 1.08 Price Level

    EUR/USD

    4 hour

    The EUR/USD has approached the previous bottom (green), which is a major bounce or break spot and a potential indicator of intermediate direction of the market.

    1 hour

    The EUR/USD wave C (blue) has reached the typical 100% Fibonacci target and could use it for a bounce. The 2nd most likely target is the 161.8% Fibonacci level.

    GBP/USD

    4 hour

    The GBP/USD is at the bottom of the uptrend channel (blue lines). The current correction is most likely part of a wave X (green).

    1 hour

    The GBP/USD seems to be building a consolidation zone between the resistance (red) and support (blue) trend lines.

    USD/JPY

    4 hour

    The USD/JPY has kept pushing higher which due to its momentum has been labeled a wave A (lavender).

    1 hour

    The USD/JPY has broken the rising wedge chart pattern (blue and red lines), which could indicate the potential for wave A (lavender) to be completed. If price does push higher then it could go towards the Fibonacci targets.


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