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

EUR/USD Bearish Trend Depends on Reaction at Broken Support

April 30, 2018 11:32


4 hour

The EUR/USD bearish momentum broke below a key support zone (dotted green) but did not yet reach the 161.8% Fibonacci target which is the minimum for an impulsive wave 3. Price usually goes further than this Fib target. The reason for this is because price might be building a shallow retracement within the downtrend. However, price should stay below the previous resistance (red) otherwise a bullish wave structure might still be more likely.

1 hour

The EUR/USD could test the broken support zone and continue with the downtrend via the wave 3 (green). Price would need to test and bounce at the Fibonacci retracement levels of a wave 4 (orange). A break above the 61.8% Fib makes a wave 4 scenario unlikely at the bearish trend could be in danger.

Good trading,

Chris Svorcik

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