Elliott Wave Analysis by Admiral Markets

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Dear Traders,

Elliott Wave Analysis, known as Wave Analysis, is a form of technical analysis which has gained more popularity over the years. This technique of forecasting the future movement of an asset class is based on the assumption that every asset class follows a particular trading cycle and it continues to trade in the same fashion every time a particular phase of the cycle repeats.

Our daily Elliott wave reports cover three major currency pairs: EUR/USD, GBP/USD and USD/JPY on two time frames.

In case you have any questions concerning our financial analysis - feel free to write us, we'll be happy to help you.
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
EURUSD

The EURUSD has broken through its downtrend channel (purple) and could be building a wave 1-2 (green) structure.

4 hour chart EURUSD:



A potentially break out (green arrows) could occur if price breaks above the resistance trend line (red dotted).

60 min chart EURUSD:


GBPUSD

Price is at the top of the downtrend channel (purple). Price seems to be in a corrective wave to the upside to complete a potential wave X (blue).

4 hour chart GBPUSD:


A potentially break out (green arrows) could occur if price breaks above the resistance trend line (purple).

60 min chart GBPUSD:


USDJPY

The USDJPY came close to tagging the 61.8% target. The USDJPY movement and therefore wave count is also very dependent on the release of the NFP figures.

4 hour chart USDJPY:


Original analysis is provided by Admiral Markets
 

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Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 10 June 2014

EURUSD

The EURUSD has broken through the downtrend channel (purple). The current wave count favors the view that is price making pullback after the break.

4 hour chart EURUSD:



A potentially break out (green arrows) could occur if price breaks above the resistance trend line (red dotted).

60 min chart EURUSD:


GBPUSD

Price is at the top of the downtrend channel (purple). Price seems to be in a corrective wave to the upside to complete a potential wave X (blue).

4 hour chart GBPUSD:


A potentially break out (green arrows) could occur if price breaks above the resistance trend line (purple).

60 min chart GBPUSD:


USDJPY

As long as price stays above support (purple), then price could potentially extend to higher Fibonacci targets of the wave Y’s (blue and green).

4 hour chart USDJPY:



“Original analysis is provided by Admiral Markets
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 11 June 2014


EURUSD

The invalidation level of the current wave outlook is at the bottom (horizontal green line) at +/-1.3503. A break below that level would mean that last week’s break above purple (and daily bullish engulfing twins) was a retracement and the count will turn bearish.

4 hour chart EURUSD:


A potentially break out (green and red arrow) could occur if price breaks above the trend channel (blue) or below support (green).

60 min chart EURUSD:



GBPUSD

Price bounced yesterday at the top of the downtrend channel (purple). Price is now back at the 61.8% Fibonacci retracement level of a potential wave X (black).

4 hour chart GBPUSD:


A potentially break out (green and red arrows) could occur if price breaks above the resistance trend line (purple) or below support (blue).

60 min chart GBPUSD:


USDJPY

Price is currently consolidating sideways, a potentially break out (green & red arrows) could occur if price breaks above the resistance trend line (orange) or below the support lines (purple and blue).

60 min chart USDJPY:


“Original analysis is provided by Admiral Markets
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 12 June 2014


EURUSD

The invalidation level of the current wave outlook is at the bottom (horizontal green line) at +/-1.3503. A break below that level would mean that last week’s break above the purple trend line (and daily bullish engulfing twins) was a retracement and the count will turn bearish.

4 hour chart EURUSD:


A potentially break out (green and red arrows) could occur if price breaks above the trend line (magenta) or below support (green).

60 min chart EURUSD:


GBPUSD

Price is retesting the top of the downtrend channel (purple) after bouncing yesterday at the 61.8% Fibonacci retracement level of a potential wave X (black).

4 hour chart GBPUSD:


A potentially break out (green and red arrows) could occur if price breaks above the resistance trend line (purple) or below support (blue).

60 min chart GBPUSD:


USDJPY

Price is currently consolidating sideways, which could be a wave X (green) of bigger WXY’s.

4 hour chart USDJPY:





“Original analysis is provided by Admiral Markets
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 13 June 2014

EURUSD

Price has bounced off of the bottom but considering the deep retracement the wave count is most likely a corrective ABC pattern (purple).

4 hour chart EURUSD:


A potentially break out (green and red arrows) could occur if price breaks above the trend line (red dotted) or below support (green).

60 min chart EURUSD:


GBPUSD

As expected the break out of the down trend channel and the move up towards the wave X (blue) has occurred. The break actually has so much momentum to it in fact, that the alternative bullish wave count (red letters) could be likely as well (instead of blue X).

4 hour chart GBPUSD:


Yesterday’s break out is going fast and impulsive and price is approaching two targets and the 1.70 round number. For the moment the wave count is showing ABC (magenta) but could be changed later on to 12345 as well.

60 min chart GBPUSD:


USDJPY

A potentially break out (green & red arrows) could occur if price breaks above the resistance trend lines (orange & red) or below the Fibonacci levels.

60 min chart USDJPY:



“Original analysis is provided by Admiral Markets
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 17 June 2014

EURUSD

Price has bounced off of the bottom but considering the deep retracement the wave count is most likely a corrective ABC pattern (purple). At this point the wave count is highly vulnerable to change due to the bullish wave count in a down trend channel (purple) but the divergence (red line on oscillator) does make it most likely.

4 hour chart EURUSD:


A potentially break out (green and red arrows) could occur if price breaks above the trend line (purple) or below support (green blue).

60 min chart EURUSD:


GBPUSD

The upward price action has so much momentum to it in fact, that the alternative bullish wave count (red letters) could be likely as well (instead of blue X).

4 hour chart GBPUSD:


The triangle (purple lines) could provide an idea which wave count is most likely. Breakout (red and green arrows) scenarios are possible to both sides but it is best to be cautious of the 1.70 round number close by for the upside and of the strong upside momentum present last week for the downside.

60 min chart GBPUSD:


USDJPY

A potentially break out (green & red arrows) could occur if price breaks above the resistance trend line (red) or below the support trend line (magenta).

60 min chart USDJPY:



“Original analysis is provided by Admiral Markets
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 18 June 2014

EURUSD

The most likely wave count is a corrective ABC pattern (purple), although the count is vulnerable to change due to the down trend channel (purple).

4 hour chart EURUSD:


A potentially break out (green and red arrows) could occur if price breaks above the trend line (purple) or below support (green blue).

60 min chart EURUSD:


GBPUSD

The main wave count remains bearish (blue X and black WXY) but the alternative would be an impulsive 5 wave (red).

4 hour chart GBPUSD:


The triangle (purple lines) could provide an idea which wave count is most likely. Breakout (red and green arrows) scenarios are possible to both sides but a trader should be cautious of the 1.70 round number and the strong upside momentum from last week.

60 min chart GBPUSD:


USDJPY

Price could have completed a wave X (green) of a bigger WXY and is now moving towards wave Y’s (green and blue).

4 hour chart USDJPY:


A potentially break out (green & red arrows) could occur if price breaks above the resistance trend line (red) or below the support trend line (magenta).

60 min chart USDJPY:


“Original analysis is provided by Admiral Markets
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 19 June 2014

EURUSD

The most likely wave count is a corrective ABC pattern (purple). The wave C (purple) and wave Y (sea green) Fibonacci levels are the potential targets of any move up.

4 hour chart EURUSD:


A potentially break out (green and red arrows) could occur if price breaks above the trend line (purple) or below support (magenta).

60 min chart EURUSD:


GBPUSD

The consolidation (purple lines) is a typical formation for a wave 4 (red).

4 hour chart GBPUSD:


Breakout scenarios are possible to both sides but the upside faces resistance due to the 1.70 round number and the huge top at 1.7040 (red line) whereas the downside encounters a strong upside momentum from last week.

60 min chart GBPUSD:


USDJPY

A potentially break out (green & red arrows) could occur if price breaks above the Fibonacci target or below the support trend line (magenta).

60 min chart USDJPY:




“Original analysis is provided by Admiral Markets
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
Daily Wave Analysis for 20 June 2014

EURUSD

Price has broken above the resistance trend line (purple) and could be headed towards the wave C (purple) and wave Y (sea green) Fibonacci targets.

4 hour chart EURUSD:


A potentially break out (green and red arrows) could occur if price breaks above the trend line (red) or below support (magenta).

60 min chart EURUSD:


GBPUSD

Yesterday price broke above the bull flag formation (purple lines) and is now moving towards the wave (red) Fibonacci targets.

4 hour chart GBPUSD:


There is a potential breakout scenario (green arrows) but price is already quite close to its Fibonacci targets.

60 min chart GBPUSD:


USDJPY

Price could be expanding the wave Y (green) by another WXY (black). The triangle formation (orange trend lines) are the lines in the sand for the moment.

4 hour chart USDJPY:




“Original analysis is provided by Admiral Markets
 
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