EUR/USD is retesting the support trend lines (blue/green). A break below the support could indicate a failure to continue the uptrend and makes an ABC (orange) more likely than a 123 (pink) pattern, which in turn could mean that the wave 4 (light pu
...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/
The USD/JPY is approaching a 38.2% Fibonacci support level and potential bounce spot. A failure for price to break above resistance could still indicate an extension of the bearish correction towards lower Fibonacci levels like the 50% Fib.
EUR/USD retraced back to and bounced at the 1.1750 support level. Price then broke above the resistance trend line (dotted red) and therefore could be extending the wave 3 (pink).
The EUR/USD bounced at the 50% Fibonacci level of wa
...EUR/USD reached the 161.8% Fibonacci target of wave 3 (pink) after breaking above the 1.1750 resistance. The current bearish price action could be a retracement within this impulsive wave 3 pattern (pink).
The EUR/USD is probably bu
...