Admiral Markets - Analytics

    Admiral Markets

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    Daily Wave Analysis for 5 January 2015

    EURUSD

    The EURUSD wave 3 (purple) is very impulsive and was able to break through the psychological round 1.20 level.

    4 hour EURUSD:

    The bearish price action could extend to the lower Fibonacci levels before a wave 4 correction (purple) should be expected.

    60 min EURUSD:

    GBPUSD

    The GBPUSD broke through the consolidation and thereby completed the very lengthy wave 4 (blue) consolidation.

    4 hour GBPUSD:

    Price is now falling towards the Fibonacci targets.

    60 min GBPUSD:

    USDJPY

    If the USDJPY is able to break through the resistance trend line (orange), then the current wave count might be changed for one where wave 4 (magenta) is already completed.

    4 hour USDJPY:

    Price is building a wedge with price bouncing back and forth between support (green) and resistance (orange).

    60 min USDJPY:


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