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 2 October 2017

October 02, 2017 03:00

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.

EUR/USD

The EUR/USD is testing the Fibonacci levels of wave 4 (blue). A break below the 23.6% Fib could price fall to the 38.2%. A bullish bounce could see price challenge the resistance (orange) trend line.

Daily chart:

The EUR/USD correction could be part of a wave 4 (blue).

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 momentum is either part of a wave A (dark green) or wave 1 (light green). In both cases a bearish retracement (wave 2/B) 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 in a wave 4 (blue) retracement has reached a potential bounce or break spot at the 38.2% Fibonacci level. A bearish break could see price fall towards the 50% Fib. A bullish break above the resistance of the channel could price continue the uptrend.

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

Wave analysis ebook


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.