Admiral Markets
AdmiralMarkets.com Representative
- Messages
- 95
EUR/USD’s Bullish Bounce, GBP/USD’s Tumble Lower
EUR/USD
4 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016eu4.png&hash=99b88ee832e6fb8b07a9c3dcb2a2daf2)
The EUR/USD bounced as part of the wave X (blue) support and indeed seems to be expanding the WXY correction. The trend line (orange) at 1.10 is an important resistance spot. A break above that could see price continue its bullish price action towards the 100% Fibonacci levels and thereafter perhaps to the higher Fib targets.
1 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016eu1.png&hash=75ed615595cad43810cc79c269e1a9d7)
The EUR/USD bounced at the confluence of 61.8% Fibonacci retracement and 100% Fibonacci target levels.
GBP/USD
4 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016gu4.png&hash=8300238f2ef9f5202c43c0cc759d7ff4)
The GBP/USD keeps pushing the downtrend to new extremes and price is now approaching the 261.8% Fibonacci target at 1.3942 of wave 3 versus wave 1 (purple).
1 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016gu1.png&hash=788e27c89df94295607812caa6f17fee)
The Cable is building wave extensions within that wave 3 and yesterday made an impulsive bearish fall after hitting the 50% Fibonacci retracement level of wave 4 (grey). There could be another 5 wave extension taking place within the wave 5 (grey) if price respects the Fibonacci levels of the wave 4 (blue circle) and resistance trend line (orange).
USD/JPY
4 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016uj4.png&hash=953c3b9d3a98e7c94e26e8fa9e6afe55)
The USD/JPY showed a bearish bounce at the resistance trend line (orange) yesterday and price is falling back towards the horizontal support (green) and bigger weekly bottom (blue). A break below the support levels indicates the potential for a downtrend continuation.
1 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016uj1.png&hash=71406e4e90d18695bc06f45caa9bb157)
The USD/JPY seems to be building a bearish ABC zigzag (green) as part of wave X (blue). If price does show a bullish bounce at the Fibonacci levels, then price could expand wave Y (brown) of wave X (green).
“Original analysis is provided by Admiral Markets”
EUR/USD
4 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016eu4.png&hash=99b88ee832e6fb8b07a9c3dcb2a2daf2)
The EUR/USD bounced as part of the wave X (blue) support and indeed seems to be expanding the WXY correction. The trend line (orange) at 1.10 is an important resistance spot. A break above that could see price continue its bullish price action towards the 100% Fibonacci levels and thereafter perhaps to the higher Fib targets.
1 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016eu1.png&hash=75ed615595cad43810cc79c269e1a9d7)
The EUR/USD bounced at the confluence of 61.8% Fibonacci retracement and 100% Fibonacci target levels.
GBP/USD
4 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016gu4.png&hash=8300238f2ef9f5202c43c0cc759d7ff4)
The GBP/USD keeps pushing the downtrend to new extremes and price is now approaching the 261.8% Fibonacci target at 1.3942 of wave 3 versus wave 1 (purple).
1 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016gu1.png&hash=788e27c89df94295607812caa6f17fee)
The Cable is building wave extensions within that wave 3 and yesterday made an impulsive bearish fall after hitting the 50% Fibonacci retracement level of wave 4 (grey). There could be another 5 wave extension taking place within the wave 5 (grey) if price respects the Fibonacci levels of the wave 4 (blue circle) and resistance trend line (orange).
USD/JPY
4 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016uj4.png&hash=953c3b9d3a98e7c94e26e8fa9e6afe55)
The USD/JPY showed a bearish bounce at the resistance trend line (orange) yesterday and price is falling back towards the horizontal support (green) and bigger weekly bottom (blue). A break below the support levels indicates the potential for a downtrend continuation.
1 hour
![](/community/proxy.php?image=https%3A%2F%2Ffxmedia.s3.amazonaws.com%2Farticles%2F20-01-2016uj1.png&hash=71406e4e90d18695bc06f45caa9bb157)
The USD/JPY seems to be building a bearish ABC zigzag (green) as part of wave X (blue). If price does show a bullish bounce at the Fibonacci levels, then price could expand wave Y (brown) of wave X (green).
“Original analysis is provided by Admiral Markets”