Admiral Markets - Analytics

    Admiral Markets

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    Completed ABC Structures Connect to Larger Corrections

    EUR/USD

    4 hour

    The EUR/USD could have completed an ABC zigzag correction (blue) during yesterday's trading. The ABC could be part of a bigger WXY (lavender) correction.

    1 hour

    The EUR/USD stopped at the 100% Fibonacci target which confirms that an ABC development seems more likely.

    GBP/USD

    4 hour

    The GBP/USD turned around back down at the resistance level (red). Price could still find support at the Fibonacci levels of wave X (green) and the support trend line (green).

    1 hour

    The GBP/USD seems to have completed an ABC zigzag (magenta) which took price back to the support trend line (blue) and the 50% Fibonacci level. This can turn out to be a small bullish bouncing spot although more bearish correction as part of wave Y (orange) could occur.

    USD/JPY

    4 hour

    The USD/JPY could be building an ABC (lavender) formation within wave X (green).

    1 hour

    The USD/JPY is building a consolidation which is most likely best explained by a wave B (lavender). A break below support (green) could see price complete an ABC (lavender) zigzag.


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