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
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 Breaks Channel Resistance with Bullish Wave-3 Momentum

November 15, 2017 04:30

EUR/USD

4 hour

EUR/USD broke the resistance trend line (dotted red) of the bearish trend channel with strong momentum. This is indicating that the downtrend is completed and more upside is likely. The bullish price action indicates that the wave 4 (light purple) is completed and price is expected to continue within the wave 5. The current momentum is typical for a wave 3 pattern (pink).

1 hour

The EUR/USD is probably building multiple wave 3s now. The current wave 3-4 (blue) is building a bull flag pattern which could see an immediate bullish break or a bearish retracement towards the Fib levels of wave 4 vs 3 (blue).

GBP/USD

4 hour

The GBP/USD remains choppy and is unable to break above and below the support (blue) and resistance (red) trend lines. A breakout is needed before a larger directional move can be expected, although a bullish breakout still faces resistance from the Fibonacci levels of wave 2 (orange).

1 hour

The GBP/USD completed the ABC zigzag correction (green) as expected in yesterday's analysis. The next wave depends on the breakout direction. The main scenario is probably that the wave Y (brown) sees price extend sideways.

USD/JPY

4 hour

The USD/JPY is still in its choppy bearish trend channel. A bullish breakout could test the resistance levels of wave X (pink). A bearish breakout below the 23.6% Fib could see a drop lower to the Fibonacci levels of wave 2 or wave B (light purple).

1 hour

The USD/JPY is testing the Fibonacci support and trend line (green).

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

Risk free Forex demo account


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.