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

​​Weekly Wave Analysis EUR/USD, GBP/USD, USD/JPY 19 February 2018

February 19, 2018 08:00

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 uptrend is building a bearish retracement as part of wave 4 (purple). A break below the 61.8% Fib and support trend lines (blue) makes a wave 4 less likely whereas a bullish break above 1.25 and the resistance trend line (red) could see price continue higher towards the Fibonacci targets of wave 3 (pink).

Daily chart:

The EUR/USD bullish breakout is building a wave 5 (light purple) within a larger wave A (red). That wave 5 could already be completed if price breaks below the support Fibs on the daily chart. Alternatively wave 5 can extend higher before completing wave A (red).

Weekly chart:

The EUR/USD bullish momentum is most likely building a 5th wave (purple) within a wave A (red), which is part of a larger bullish ABC (red).

Monthly chart:

GBP/USD

The GBP/USD bounced at the 61.8% Fibonacci level of wave 4 (green) and is now testing the resistance trend line (red). A bullish break could indicate one more push higher within C (blue). Wave 5 could turn out to be a truncated wave 5 (double top).

Daily chart:

A break above the resistance trend line (red) and bottom of wave 1 (light purple) invalidates the wave 4 pattern (light purple) but the GBP/USD stopped and turned at the 61.8% Fibonacci resistance level of wave 4 (light purple). A break below the support levels could indicate a downtrend within wave 5 (light purple).

Weekly chart:

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:

USD/JPY

The USD/JPY broke below the previous support zone (dotted green). A bullish bounce back to the broken support could act as a resistance zone.

Daily chart:

The USD/JPY is expanding the bearish correction of wave Y (light purple) of wave B (red) after breaking below the support zone.

Weekly chart:

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

Monthly chart:

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

Forex101 Forex Trading Course


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.