Admiral Markets Group consists of the following firms:

Admiral Markets Pty Ltd

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

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
CONTINUE

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
CONTINUE

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
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 asic CySEC efsa fca

EUR/USD Is Testing Critical Support in Uptrend Channel

August 30, 2018 08:52

EUR/USD

4 hour

EUR/USD Wave AnalysisSource: Admiral Markets MT5 with MT5SE Add-on EUR/USD motive wave

The EUR/USD is testing the support trend line (blue) of the bullish trend channel. A bearish breakout could indicate the end of wave A (purple) and the start of a wave B (purple), whereas a bullish bounce could extend the wave A to a higher high. The zone of resistance confluence at around 1.1750-1.1780 is still active and could stop the price from moving higher.

1 hour

EUR/USD Wave AnalysisSource: Admiral Markets MT5 with MT5SE Add-on EUR/USD motive wave

The EUR/USD could be in a potential ABC (green) correction if the price breaks below the uptrend channel. A break above the resistance trend line (orange) however, could indicate a bullish breakout towards the Fibonacci targets of wave 5.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.