Admiral Markets - Analytics

    Admiral Markets

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    Major Forex pairs arrive at critical decision zones

    EUR/USD

    4 hour

    The EUR/USD retraced back to the 50% Fibonacci level and showed a bullish bounce. This could complete wave B (blue) within a larger ABC zigzag (blue).

    1 hour

    The EUR/USD is at a resistance trend line (red) which is a potential break or bounce spot.

    GBP/USD

    4 hour

    The GBP/USD's wave count has been changed to reflect the larger bullish price action. Price is still at levels of resistance such as the trend line (red) and 61.8% Fib. A break above the brown horizontal line invalidates wave 4 (blue).

    1 hour

    The GBP/USD is making an ABC bullish zigzag (pink) within the potential wave 4 (blue).

    USD/JPY

    4 hour

    The USD/JPY has broken below the support (green) level and has remained below resistance (red). This could be part of larger wave B correction.

    1 hour

    The USD/JPY broke below support in what could be a bearish ABC zigzag (green).


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