Admiral Markets - Analytics

    Admiral Markets

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    Decisive price action emerges on US Dollar

    EUR/USD

    4 hour

    The EUR/USD has continued with its breakout above the resistance (dotted red) trend line yesterday. A strong bullish 4 hour candle could indicate more bullishness later today or this week.

    1 hour

    The EUR/USD's impulsive move up has been marked as a wave 3 (orange). If wave 3 is completed then price could find support at the Fibonacci levels of wave 4 (orange).

    GBP/USD

    4 hour

    The GBP/USD wave count has been changed to a bearish ABC (magenta) for wave X (blue) due to the strong bullish rally.

    1 hour

    The GBP/USD broke above another resistance (dotted red) trend line in an impulsive move up as part of wave 3 (green). The breakout trade was discussed in the live webinar yesterday.

    USD/JPY

    4 hour

    The USD/JPY challenged the resistance trend line (orange) but failed to break and made a bearish turn. Price then broke below the support line of the bullish channel (dotted green) in what seems to be an ABC bearish zigzag.

    1 hour

    The USD/JPY came very close to invalidating wave B (blue) but eventually did turn before breaking above the 100% Fibonacci levels.


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