Admiral Markets - Analytics

    Admiral Markets

    699.50 6.50/10
    83% of positive reviews
    Real

    EUR/USD ready for bullish break in ABC rally

    EUR/USD

    4 hour

    The EUR/USD showed indecision yesterday in its movement. However, the strong bullish price action from last week still preservers and makes a bullish ABC zigzag (orange) the most likely scenario.

    1 hour

    The EUR/USD retraced back to the 23.6% Fibonacci level of wave B (orange). A break below the channel could indicate that price is retracing back to the 38.2% Fibonacci level. The 1.1475-1.15 price zone is the main target for the moment.

    GBP/USD

    4 hour

    The GBP/USD is in a choppy consolidation with support (green) and resistance (red) marking the consolidation zone. A break above the 100% Fibonacci level invalidates the wave 2.

    1 hour

    The GBP/USD could use the support trend line (green) for further upside but the 78.6% Fibonacci level is a strong resistane.

    USD/JPY

    4 hour

    The USD/JPY needs to break above this trend line (red) and resistance zone (orange) before a rally for a wave 3 (purple) becomes more likely. A break below the bottom (green) invalidates the wave 1-2 (purple) structure.

    1 hour

    The USD/JPY seems to have completed a bearish ABC (brown) zigzag within wave 2 (blue), which becomes invalidates if price manages to break below the 100% Fib level of '2 vs 1'.

    Follow @ChrisSvorcik on twitter for latest market updates

    EUR/USD Instrument


    To leave a comment you must or Join us

    • avatar-2484
      • #

      The bullish bias makes me wonder, how long the price is going to fall.


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree