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Weekly Wave Analysis EUR/USD, GBP/USD, USD/JPY 11 June 2018

June 11, 2018 12:19

Hello trader,

Please find here below this week's wave analysis on the EUR/USD, GBP/USD and USD/JPY daily, weekly and monthly charts. More education, analytics, articles, and webinars can be found daily on Admiral Markets.


The EUR/USD is building a bullish retracement which could be a wave 4 (pink). The Fibonacci retracement levels of wave 4 could therefore act as resistance. A break above the 50% Fib makes a wave 4 less likely and price could be building a larger bullish ABC.

Daily chart:

EURUSD - 1 day

The EUR/USD seems to be building a bearish ABC (purple) correction within wave B (red). Price was close to the 50% Fibonacci level but could make one more lower low if the wave 4-5 analysis from the daily chart is correct.

Weekly chart:

EURUSD - 1 week

The EUR/USD has probably completed wave A (red) and price is now most likely retracing to the Fibonacci levels of wave B (red).

Monthly chart:

EURUSD - 1 month


The GBP/USD is probably building a wave 4 (light purple) correction and is testing the Fibonacci retracement levels.

Daily chart:

GBPUSD - 1 day

The GBP/USD has probably started the bearish wave 5 after price has completed a wave 4 (light purple) correction.

Weekly chart:

GBPUSD - 1 week

The GBP/USD bearish breakout could see the continuation of the wave 5 (purple) whereas a bullish break above resistance (red) could indicate that the wave C has been completed at the bottom.

Monthly chart:

GBPUSD - 1 month


The USD/JPY seems to be building a bullish WXY correction (pink) within wave D.

Daily chart:

USDJPY - 1 day

The USD/JPY could be building an ABCDE triangle (light purple) within wave B (red).

Weekly chart:

USDJPY - 1 week

The USD/JPY could now rise towards the Fibonacci levels of wave D (light purple).

Monthly chart:

USDJPY - 1 month

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