Admiral Markets Group consists of the following firms:

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
CONTINUE

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
CONTINUE

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
CONTINUE

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
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 Support Line for Bearish Wave C Break

April 20, 2018 12:56

EUR/USD

4 hour

The EUR/USD is breaking below the support trend line (dotted blue) which is creating a larger bearish wave structure and expanding the bearish correction. Price is probably building a bearish ABC (brown) correction and could fall to test the Fibonacci targets of wave Y vs W.

1 hour

The EUR/USD broke below the chart pattern and is likely to make the short-term trend bearish. A bullish breakout is expected to face a strong support zone at 1.2325, 1.2250 and 1.22.

Good trading,

Chris Svorcik

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


Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85% 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.