Admiral Markets - Analytics

    Admiral Markets

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    Trend lines on EUR/USD indicate multiple patterns

    EUR/USD

    4 hour

    An EUR/USD is building an ABC zigzag within the larger triangle formation.

    1 hour

    The EUR/USD has multiple support (green) and resistance (red) trend lines above and below price action.

    GBP/USD

    4 hour

    The GBP/USD is correcting the downtrend via a WXY (green) as part of a larger wave 4 (purple). A break below support and the wave X bottom (green) could lead to bearish breakout whereas a bounce at support could price correct longer in wave Y (green).

    1 hour

    The GBP/USD fell towards the support trend line (green) and Fibonacci level, which could act as a bouncing spot for the wave C (blue). A break below the bottom of wave X (green) invalidates current wave B (blue).

    USD/JPY

    4 hour

    The USD/JPY is making a corrective chart pattern at the moment, which is indicated by the support (green) and resistance (red) trend lines. Price is retracing towards the Fibonacci levels of wave X (green).

    1 hour

    The USD/JPY completed a bullish ABC zigzag (pink) but price could expand the correction via a WXY (green) if the USD/JPY stays above support (2 greens).


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