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

​​Weekly Wave Analysis EUR/USD, GBP/USD, USD/JPY 17 September 2017

September 17, 2017 17:30

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. https://admiralmarkets.com/analytics/

EUR/USD

The EUR/USD seems to have completed an ABC correction (red) within the wave 4 (blue). The wave 4 might become extended via a WXY formation if price does not break above the 1.2075-1.21 resistance zone. A bullish breakout could indicate the continuation of the uptrend via wave 5 (blue).

Daily chart:

The EUR/USD bullish price action is probably part of a wave 3 (blue) momentum.

Weekly chart:

The EUR/USD bullish momentum could be part of a wave A (brown). The strong bullish momentum seems to indicate that the bearish wave 5 (blue) of wave C (brown) is most likely completed.

Monthly chart:

USD/JPY

The USD/JPY bullish reversal is now challenging a new horizontal resistance zone (red). The bullish momentum is either part of a wave A (dark green) or wave 1 (light green). In both cases a bearish retracement could take place before a 3rd bullish wave occurs.

Daily chart:

The USD/JPY is in a larger triangle chart pattern with support (blue) and resistance (red) nearby.

Weekly chart:

The USD/JPY is most likely in a wave B (green) correction at the moment. Price could test lower Fibs like the 50%-61.8% Fib or show a break above resistance (red) and start wave C.

Monthly chart:

GBP/USD

The GBP/USD bullish momentum is accelerating strongly, which is most likely part of a wave 3 (blue).

Daily chart:

The GBP/USD is breaking above the resistance trend line (dotted brown), which makes a wave 4 (purple) less likely. A break above the 61.8% Fib and the bottom of wave 1 (orange line) invalidates the wave 4 and makes a bullish structure more likely.

Weekly chart:

The GBP/USD is showing a potential bullish breakout.

Monthly chart:

Follow @ChrisSvorcik on twitter for latest market updates.
Connect with Chris Svorcik on Facebook for latest market updates.

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.