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 Builds ABC Correction after Strong Bullish Momentum

March 06, 2018 06:29

EUR/USD

4 hour

The EUR/USD showed strong bullish momentum at the support zone (green). A bullish breakout

above resistance (orange/red) could confirm the continuation of the uptrend whereas a bearish

break below support makes a wave 4 (pink) less likely and a downtrend more probable.

1 hour

The EUR/USD could make a bearish pullback via an ABC pattern (blue) within wave 2 (purple).

GBP/USD

4 hour

The GBP/USD is building a bullish channel (green) after bouncing at the 61.8% Fibonacci level.

1 hour

The GBP/USD is probably not in a bearish wave 4 anymore after breaking above the bottom of wave

1 (dotted red). It could now be in a bullish wave 4 (grey), unless price breaks above the bottom of the

wave 1 (red line).

USD/JPY

4 hour

The USD/JPY could have completed a bearish wave 5 (blue) at the most recent lower low around 105.

1 hour

A bearish extension is still possible as the USD/JPY could be building a bearish wave 4 (green)

correction, but a break above the resistance trend line (red) would invalidate this.

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. 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.