Admiral Markets - Analytics

Admiral Markets

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US Dollar Fails to Break Resistance During NFP

EUR/USD

4 hour

The EUR/USD stayed within the trend lines despite Friday's Non-Farm Employment Change. Price remains in an August wedge between support (green) and resistance (red).

1 hour

The EUR/USD bounced off support during the NFP announcement and created a double bottom (green). Price could now be heading towards the Fibonacci targets of wave Y vs W and the resistance trend line (red).

GBP/USD

4 hour

The GBP/USD pushed below support during the Non-Farm Employment Change in intra-day trading but eventually closed above it (green). Price remains in a tight wedge with support (green) and resistance (red) nearby.

1 hour

The GBP/USD is showing a downtrend with lower lows and lows highs on the lower time frame but overall the movement is relatively choppy and support levels could stop the drop.

USD/JPY

4 hour

The USD/JPY's failed to break above the top and showed a strong bearish candle on Friday, which could have completed the wave C (purple).

1 hour

The USD/JPY made a strong momentum fall on Friday. This could be a potential wave A of a bigger ABC (purple).



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