Admiral Markets - Analytics

    Admiral Markets

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    Trend Channels Identify S&R Spots within Waves

    EUR/USD

    4 hour

    The EUR/USD is glued to an important support level at 1.08(20), which is indicated by the horizontal line (green). A break could see price move lower to the next target whereas a bounce could see price make a move up to the next resistance (red).

    1 hour

    The EUR/USD is in a shallow angled bearish channel. The top and bottom of the channel show potential break spots.

    GBP/USD

    4 hour

    The GBP/USD is breaking below the bullish channel (blue) but could find support at the Fibonacci levels of wave X (green) and the shallower trend lines (green).

    1 hour

    Despite the break the GBP/USD is still supported by a trend line (light blue) and a 38.2% Fibonacci retracement level whereas resistance is marked by orange and red.

    USD/JPY

    4 hour

    The USD/JPY is close to hitting the 78.6% retracement Fibonacci level of the last bearish swing (wave X green), which could turn out to be a resistance level.

    1 hour

    The USD/JPY is in a channel with a very shallow bullish angle. The top and bottom of the channel show potential break spots.


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