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
  • Negative balance 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 Uptrend Bounces at Critical 1.20 Support Zone

January 04, 2018 10:30

EUR/USD

4 hour

The EUR/USD uptrend retraced back to the broken resistance (dotted red lines) at 1.20 which has provided support for a bullish bounce. Price could use the support zone to make a new rally but a larger resistance zone (red lines) is still present which makes this particular spot difficult and a larger bearish correction could still emerge. However, a bullish breakout above 1.21 could indicate a wave 3 pattern and a continuation higher becomes more likely.

1 hour

The EUR/USD used the Fibonacci levels of wave 4 (blue) as a bounce zone. The bullish break above the resistance trend line (red) seems likely but it remains to be seen whether price can break above the previous top. A break could see price move towards the Fib targets of wave 5.

GBP/USD

4 hour

The GBP/USD bullish trend has made a retracement after hitting the 61.8% Fibonacci target of wave 5. A bullish bounce could see price move towards the Fibonacci targets of waves 5, which seems to be part of a wave C (green).

1 hour

The GBP/USD made a bearish retracement within wave 4 (blue) and used the Fib levels of wave 4 to make a bullish bounce. The larger bearish move however could also indicate a potential wave A of a larger ABC correction within wave 4. The key factor will be whether price moves correctively or impulsively when hitting 1.3550 – 1.36.

USD/JPY

4 hour

The USD/JPY bullish reaction could indicate the completion of a wave 2-B (light purple) but the direction will depend on the breakout direction of the trend lines.

1 hour

The USD/JPY broke above the resistance trend line (dotted orange) and made a larger bullish up movement. For the moment price is in a triangle pattern and the breakout direction will indicate whether a downtrend or uptrend could start.

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

Download MT4 Supreme Edition - Forex trading platform


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.