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
  • Tagatisfond protection
  • 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
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 Bounces at Mulitple Fibonacci Levels of Wave 2 Pullback

June 23, 2017 03:30

EUR/USD

4 hour

The EUR/USD is probably building a break, retracement, and continuation, which is why waves 1 and 2 (brown) are indicated on the chart. Price will need to break below the bottom at 1.11 before a potential wave 3 becomes likely.

1 hour

The EUR/USD stopped at the 61.8% Fibonacci level of wave X (blue). A break below support (green) could indicate a continuation of the bearish trend. Price invalidates wave 2 (brown) if price manages to break above the 100% Fibonacci level but the other Fibonacci levels could act as resistance - similar to how price bounced at the 38.2% of wave 2 (brown).

USD/JPY

4 hour

The USD/JPY seems to be building a retracement after the bullish breakout above resistance (dotted red). The pullback is probably a wave 4 (orange) which could find support (green lines) at the previous bottom and tops.

1 hour

The USD/JPY needs to break above resistance (red) before the wave 5 (orange) could start. A break below the 61.8% Fib of wave 4 vs 3 makes a wave 4 (orange) unlikely.

GBP/USD

4 hour

The GBP/USD is challenging resistance lines (red/orange) and a break above these levels would invalidate (part of) the current wave structure.

1 hour

The GBP/USD is in a potential wave 4 (orange) but this wave is invalidated if price manages to break above the bottom of wave 1 (red). A break below support (green) could see the continuation of wave 3 (blue).

Follow @ChrisSvorcik on twitter for latest market updates.
Connect with Chris Svorcik on Facebook for latest market updates.

Download MT4 Supreme Edition


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.