Admiral Markets - Analytics

    Admiral Markets

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    Real

    EUR/USD retraces to 78.6% Fib and channel support

    EUR/USD

    4 hour

    The EUR/USD is in a bullish trend channel (dark blue) within a larger wave 4 (blue) correction.

    1 hour

    A break below the 100% Fibonacci level invalidates the current wave count. A break above resistance (orange) could see price complete the ABC (orange) zigzag.

    GBP/USD

    4 hour

    The GBP/USD is moving sideways in a corrective zone within the wave 4 (purple).

    1 hour

    The GBP/USD choppiness could make various wave corrections possible. At the moment the charts are showing a bearish ABC zigzag which takes price back to support for wave X (green).

    USD/JPY

    4 hour

    The USD/JPY broke the resistance trend line (orange dotted). Price could now be building a bullish correction before continuing with the downtrend. A bearish turn for wave X (blue) should occur at the Fibonacci levels (X vs W) otherwise the current wave count is invalidated.

    1 hour

    The USD/JPY is building a larger correction via an ABC (green) zigzag.


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    • avatar-1195
      • #

      I think next several weeks we will see a clear bearish market, so we have to prepare to act very carefully.


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