Regulator

What happens if I select a regulator?

Admiral Markets UK is regulated by the UK Financial Conduct Authority (FCA): Firm Ref № 595450.

Admiral Markets AS is regulated by the Estonian Financial Supervision Authority (EFSA): License № 4.1-1/46.

Admiral Markets Cyprus Ltd authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC): License number 201/13.

Selecting one of these regulators will display the corresponding information across the entire website. If you would like to display information for a different regulator, please select it.

Thank you, got it
fca
efsa
CySEC

EUR/USD Bearish Breakout and Wave 5 Challenges 1.1820 Bottom

May 16, 2018 10:39

EUR/USD

4 hour

The EUR/USD reversed at Fibonacci resistance levels of wave 4 (green) and is now challenging the previous bottom (blue line) after a strong bearish break below the support trend lines (dotted green). A bearish breakout could indicate a continuation of the 5th wave (blue) and aim for the 1.1750 round level. This lower low could complete the 3rd wave (purple) and one more lower is possible after a wave consolidation (purple) within the larger wave A (correction). Technically speaking price already broke the previous bottom by 5 pips so a bullish reaction could already indicate the end of wave 5.

1 hour

The EUR/USD seems to have completed a bearish wave 3 and 4 (green) and price is now in a wave 5 which could push lower if it manages to break below the support trend line (blue). A break above the 50% Fib of wave 4 could indicate that the wave 5 is already completed.

Chris Svorcik

P.S. Don't forget to follow Admiral Markets on Facebook – or @AdmiralMarkets on Twitter – for the latest market updates.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.