Admiral Markets Group consists of the following firms:

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • FSCS protection
  • Negative balance protection
CONTINUE

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • Guarantee Fund
  • Negative balance protection
CONTINUE

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • ICF protection
  • Negative balance protection
CONTINUE

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
  • Leverage up to:
    1:500 for retail clients
  • Volatility protection
  • Negative balance protection
CONTINUE
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator fca efsa CySEC asic

EUR/USD Approaches 1.20, GBP/USD at 1.35 Resistance

December 29, 2017 07:30

GBP/USD

4 hour

The GBP/USD bullish break is still moving higher and could see price move towards the Fibonacci targets of waves 5. The uptrend seems to be part of a wave 5 (brown) within wave C (green).

1 hour

The GBP/USD seems to be building an internal 5 wave (grey) pattern within a larger wave 3 (blue/green) breakout. A bearish retracement could occur as part of wave 4 (grey) but price could some time before the correction is completed. A break below the 61.8% Fib would make a wave 4 (grey) less likely.

EUR/USD

4 hour

The EUR/USD has reached the strong resistance zone (red lines) and is building a rising wedge chart pattern (red/blue lines). A bearish reversal could send the EUR/USD lower to test the wave 2 vs 1 (pink) and the Fib levels of wave Y (purple) whereas a bullish breakout could indicate a continuation of the uptrend.

1 hour

The EUR/USD is testing the resistance trend line (red) and the Fibonacci levels of wave Y (orange) of the rising wedge pattern.

USD/JPY

4 hour

The USD/JPY bearish price action is now challenging a larger support trend line. A break below the support trend line (blue) could indicate a larger bearish wave C (purple) correction within wave 2 or B (light purple).

1 hour

The USD/JPY bearish breakout could see price retest the support levels around 112.

Follow @ChrisSvorcik on twitter for latest market updates.
Connect with Chris Svorcik on Facebook for latest Forex and education tips.

Wave analysis ebook


Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.