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 Reaches Bearish Wave 3 Target at 1.1750

May 17, 2018 11:03

EUR/USD

4 hour

The EUR/USD broke below the previous bottom (dotted blue line) and made a new lower low. The bearish breakout managed to reach the quarter level of 1.1750, which could be the main target for the wave 3 (purple). Price can sometimes extend further and hence it is possible that price could reach the next Fibonacci target as well but a break below 1.1750 support is needed. Otherwise it seems more likely that a wave 4 (purple) correction will take place.

1 hour

The EUR/USD seems to have completed a bearish wave 5 (green) and price could be building a bullish correction within wave 4 (purple) of the 4 hour chart. A bullish break above the resistance trend line (red) could indicate that larger retracement whereas a break below 1.1750 could see an extension of the bearish trend, although slower and more corrective.

Chris Svorcik

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

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. 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.