Admiral Markets - Analytics

    Admiral Markets

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    GBP/USD ABC zigzag break above resistance

    EUR/USD

    4 hour

    An EUR/USD break below the support (green) trend line could see price fall towards the Fibonacci levels of wave X vs. W. A break above the resistance (orange) trend line could price move towards the Fibonacci targets of wave Y vs. W.

    1 hour

    The EUR/USD bounce at support on the 4 hour chart could cause an ABC bullish zigzag (blue).

    GBP/USD

    4 hour

    The GBP/USD has broken above various resistance levels (dotted reds). Price seems to be correcting the downtrend via a WXY (green) as part of a larger wave 4 (purple).

    1 hour

    The GBP/USD seems to be in a bearish ABC (blue) zigzag within wave Y (green). The Fibonacci levels of wave B (blue) are potential bouncing spots.

    USD/JPY

    4 hour

    The USD/JPY is labeled as a wave X (green) correction, which could either already have been completed at the most recent high or could be expanded with a larger WXY (blue) correction as shown in the image.

    1 hour

    The USD/JPY is building a contracting triangle pattern as indicated by the trend lines (red and green).


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