Admiral Markets - Analytics

    Admiral Markets

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    EUR/USD and GBP/USD retracing in waves to Fibonacci levels


    4 hour

    The EUR/USD retraced back to the 78.6% Fibonacci retracement of the wave X (purple) correction. The wave count is vulnerable to change if price breaks below this level.

    1 hour

    The EUR/USD could have completed an ABC bearish zigzag (orange) down towards the wave X (purple) but a break above resistance is needed before the completion of the ABC becomes more likely.


    4 hour

    The GBP/USD seems to have completed a wave 3 (pink). Price could now be starting a wave 4 (pink) retracement with resistance at the Fibonacci levels of wave 4 vs 3.

    1 hour

    Within wave 3 (pink) the GBP/USD completed a bearish 5 wave (orange) as part of the wave's 5 (grey/blue). An ABC correction seems to be unfolding as part of wave 4.


    4 hour

    The USD/JPY break below the bottom (green) makes it likely that price has completed a wave X (brown) and is in wave Y (blue).

    1 hour

    The USD/JPY seems to have completed a bearish ABC zigzag (pink). If price keeps pushing lower and below the bottom (green), then the wave count can chance to a 123. If price makes a bullish correction, then this could lead to price moving higher as part wave X (brown).

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