EUR/USD
4 hour
The EUR/USD bullish momentum broke above multiple resistance trend lines (dotted red) and is building an uptrend channel. This bullish price action could be either wave 1 (green) of the uptrend or a bearish correction within a larger ABC (brown) zigzag with
...GBP/USD
4 hour
The GBP/USD bullish bounce at support (blue) has created a new bullish breakout above the resistance trend lines (dotted red). This could be part of a wave 5 (green) pattern that could create one more higher high in this uptrend. A break below the support z
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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
...USD/JPY
4 hour
The USD/JPY is challenging the Fibonacci levels of a potential wave 4 correction (blue). A break above the shallow Fib levels such as the 38.2-50% Fibs makes such a wave 4 unlikely and that would change the wave perspective to bullish. A break below support
...EUR/USD
4 hour
The EUR/USD bearish channel is choppy and corrective and is now approaching a key support zone between 1.2150 and 1.22. The bearish retracement could be completing a wave 2 (purple) or starting a new down trend. Price will need to break above the support (g
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