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 Bearish Break to Challenge 61.8% and 78.6% Fib Levels

December 18, 2017 04:45

EUR/USD

4 hour

The EUR/USD bearish break below the support trend line (dotted blue) makes it likely that price will challenge the Fibonacci levels of wave 2 (pink). A break below the 100% Fib level of wave 2 vs 1 invalidates the wave 2 (pink) and indicates an expansion of wave 4 (light purple).

1 hour

The EUR/USD indeed bounced at the support trend line but the rally turned at the Fibonacci levels of wave B (blue) as expected in last week's analysis. The bearish breakout could be part of wave C (blue).

GBP/USD

4 hour

The GBP/USD is retesting the support zone (blue lines), which could lead to price making a bullish bounce again. There is also a 50% and 61.8% Fibonacci of wave 4 vs 3 (brown) that could provide support.

1 hour

The GBP/USD broke below the support trend line (dotted green) and fell again to the Fibonacci levels of wave 4. A break below the 61.8% makes a wave 4 less likely.

USD/JPY

4 hour

The USD/JPY indeed made a bullish bounce after reaching 112. The price action could be part of a wave B (purple) as price extends its bearish correction towards 111 and 110. A break above the 100% Fib level at 113.75 invalidates the ABC zigzag.

1 hour

The USD/JPY is respecting the 38.2% Fib but could extend the correction to higher Fibs before making a bearish bounce.

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

MT4 Forex and CFD trading platform


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.