Admiral Markets
AdmiralMarkets.com Representative
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USD/JPY sturdy bullish reversal at 50% Fib of wave 4
EUR/USD
4 hour
The EUR/USD managed to retrace back to the 38.2% Fibonacci retracement level of wave E vs D (green) of a larger triangle on the daily/weekly charts. The EUR/USD has completed a wave 5 (purple) of potential wave a (brown) if price manages to break below the support trend line (green) and 50% Fib of wave 4 vs 3. A bounce at support could still wave 5 go higher and perhaps reach the resistance (red).
1 hour
The EUR/USD has either completed a wave 5 (purple) at the recent high or is expanding the wave 4 correction (purple) via an ABC (blue).
GBP/USD
4 hour
The GBP/USD is building a WXY (blue) correction within wave 4 (green). Once wave 4 (green) is completed, a downtrend continuation is expected to push below support for wave 5 (blue/purple).
1 hour
The GBP/USD broke the trend line (dotted red) and made a higher high as part of the wave 5 (purple) within wave C (purple). A bearish correction seems to have started at the resistance Fibs.
USD/JPY
4 hour
The USD/JPY indeed made as expected a bullish bounce at the Fibonacci levels of wave 4 vs 3 (blue). A break above resistance (red) could confirm the breakout for wave 5 (blue).
1 hour
The USD/JPY indeed started the wave 3 (brown) and is at resistance trend line. A breakout could see price continue towards the 261.8% Fib target before making a bull flag as part of wave 4 (brown).
Follow @ChrisSvorcik on twitter for latest market updates
EUR/USD
4 hour
![07_11_2016eu4.png](/community/proxy.php?image=https%3A%2F%2Fs12.postimg.org%2Ffpc6vy4xp%2F07_11_2016eu4.png&hash=70ff3ffeb840c6da03759fbc391c2214)
The EUR/USD managed to retrace back to the 38.2% Fibonacci retracement level of wave E vs D (green) of a larger triangle on the daily/weekly charts. The EUR/USD has completed a wave 5 (purple) of potential wave a (brown) if price manages to break below the support trend line (green) and 50% Fib of wave 4 vs 3. A bounce at support could still wave 5 go higher and perhaps reach the resistance (red).
1 hour
![07_11_2016eu1.png](/community/proxy.php?image=https%3A%2F%2Fs17.postimg.org%2F65nzgndzj%2F07_11_2016eu1.png&hash=a7fffb6a6238f77556cc2240cf419663)
The EUR/USD has either completed a wave 5 (purple) at the recent high or is expanding the wave 4 correction (purple) via an ABC (blue).
GBP/USD
4 hour
![07_11_2016gu4.png](/community/proxy.php?image=https%3A%2F%2Fs15.postimg.org%2Fbkcht1dmz%2F07_11_2016gu4.png&hash=0bb195bfbf3b11f3a5f18f987000d137)
The GBP/USD is building a WXY (blue) correction within wave 4 (green). Once wave 4 (green) is completed, a downtrend continuation is expected to push below support for wave 5 (blue/purple).
1 hour
![07_11_2016gu1.png](/community/proxy.php?image=https%3A%2F%2Fs11.postimg.org%2Fshclidy8j%2F07_11_2016gu1.png&hash=2bde0374c7511a9a30f748e4e330b271)
The GBP/USD broke the trend line (dotted red) and made a higher high as part of the wave 5 (purple) within wave C (purple). A bearish correction seems to have started at the resistance Fibs.
USD/JPY
4 hour
![07_11_2016uj4.png](/community/proxy.php?image=https%3A%2F%2Fs22.postimg.org%2Fmqw3x371d%2F07_11_2016uj4.png&hash=7737fb06b8a05eb67998d349f2c384d8)
The USD/JPY indeed made as expected a bullish bounce at the Fibonacci levels of wave 4 vs 3 (blue). A break above resistance (red) could confirm the breakout for wave 5 (blue).
1 hour
![07_11_2016uj1.png](/community/proxy.php?image=https%3A%2F%2Fs12.postimg.org%2Fzf9lbxgnh%2F07_11_2016uj1.png&hash=a53df1d1211c24b76806d0198c092a46)
The USD/JPY indeed started the wave 3 (brown) and is at resistance trend line. A breakout could see price continue towards the 261.8% Fib target before making a bull flag as part of wave 4 (brown).
Follow @ChrisSvorcik on twitter for latest market updates