Elliott Wave Analysis by Admiral Markets

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
EUR/USD Bearish Breakout Starts Wave 3 Momentum

EUR/USD

4 hour



The EUR/USD has broken below the support trend line (dotted blue) which could kick start momentum within wave 3 (blue) towards the Fibonacci targets. A break above the resistance (red/orange) invalidates the wave 3 formation.

1 hour



The EUR/USD seems to be building a 5 wave extension (purple) within the 3rd wave (blue).

GBP/USD

4 hour



The GBP/USD is building a small correction but a break below support (green) could see wave 3 (blue) continue.

1 hour



The GBP/USD stopped and reversed at the 38.2% Fibonacci level of wave 4 (orange) as expected in yesterday’s analysis. A break above the trend line (orange) could see price challenge higher Fibs but a break above the 61.8% Fib makes a wave 4 unlikely.

USD/JPY

4 hour



The USD/JPY is in a descending wedge pattern with support (green) and resistance (orange) nearby. A bearish break could see price fall towards the Fibonacci retracement levels of wave B (blue).

1 hour



The USD/JPY broke below support (dotted blue) and completed a wave 4 (blue). Price remains in a 5th wave as long as it remains below resistance (orange).

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Admiral Markets

AdmiralMarkets.com Representative
Messages
95
GBP/USD Wave-4 Pullback to 61.8% Fib Ahead of UK Elections

GBP/USD

4 hour



The British Pound weakened last week ahead of the UK elections which will take place on Thursday 8 June 2017. Some opinion polls are showing a shrinking lead for the current Prime Minister Theresa May of the Conservative party and a rebound for the Labour opposition party but a full week of campaigning still remains in front of the UK.

The GBP/USD channel (green lines) is a bear flag chart pattern and a potential bearish break could see price continue with wave 3 (blue). A bullish break above the channel, however, could change the wave structure.

1 hour



The GBP/USD completed an ABC (grey) correction at the 50-61.8% Fibonacci zone of wave 4 (orange).

EUR/USD

4 hour



The EUR/USD made a deep retracement back to the resistance trend line (red), which is a key bounce or break spot. A bearish bounce could confirm the current wave structure whereas a bullish break invalidates it.

1 hour



The EUR/USD stopped at the 78.6% Fibonacci resistance level and has reached a major bounce or break spot.

USD/JPY

4 hour



The USD/JPY could have completed a truncated 5th wave (orange), which means that wave 5 does not break the bottom (or top) of wave 3 (orange).

1 hour



The USD/JPY seems to have completed 5 internal waves twice (grey/purple) within wave 5 (orange). A bullish break above resistance (orange) could confirm the current wave structure whereas a break below support (green) invalidates it.

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Admiral Markets

AdmiralMarkets.com Representative
Messages
95
EUR/USD Builds Higher High which Challenges 1.13 Resistance

EUR/USD

4 hour


The EUR/USD bounced at the support levels (green/blue) and showed one more bullish rally. The new higher high is challenging the 100% Fib level at 1.13 of wave 2 (green), which is a break or bounce zone.

1 hour



The EUR/USD is in a bullish trend channel (red/blue lines). The breakout direction above or below the channel could indicate the next trend direction.

GBP/USD

4 hour



The UK will hold general parliamentary elections on Thursday 8 June 2017. Find out everything you need to know to trade through the UK general election 2017.

The GBP/USD is building a corrective pattern which is indicated by the trend lines. A break above it invalidates the wave 3 (blue) whereas a break below support (green) could confirm it.

1 hour



The GBP/USD is building a smaller triangle (yellow/green) within a larger triangle (red/dark green).

USD/JPY

4 hour



The USD/JPY failed to break above the next resistance trend line (red) and turned strongly bearish during the NFP (Non-Farm Payroll) news event. The new lower low indicates that the wave 5 (orange) is still open.

1 hour



The USD/JPY needs to break below support (green) to complete wave 5 (orange). A break above the 61.8% Fibonacci level of wave 4 (purple) makes the wave 4 unlikely. In that case the wave 5 could have been completed at the recent low.

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Admiral Markets

AdmiralMarkets.com Representative
Messages
95
GBP/USD Bullish Break Runs into Resistance ahead of UK Elections

GBP/USD

4 hour



The UK will hold general parliamentary elections on Thursday 8 June 2017.

The GBP/USD broke above the resistance trend line (dotted red) which invalidated yesterday’s bearish wave count and could make a bullish variant more likely although both support and resistance levels remain nearby.

1 hour



The GBP/USD broke out above the smaller resistance line (dotted yellow) and is now challenging the resistance top (red).

EUR/USD

4 hour



The EUR/USD is moving higher in a bullish trend channel indicated by the support (blue) and resistance (red) trend lines. The new higher high is challenging the 100% Fib level at 1.13 of wave 2 (green), which is a break or bounce zone.

1 hour



The EUR/USD is trying to break above the resistance trend line (dotted orange) but it has a major resistance zone (red) at 1.13 just above it. It remains to be seen whether price will break or bounce at 1.13.

USD/JPY

4 hour



The USD/JPY broke below the support trend line (dotted green) and is challenging the Fibonacci levels of wave B (brown).

1 hour



The USD/JPY indeed completed a wave 4 (grey) as indicated earlier this week and is building one more lower low via a wave 5.

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Admiral Markets

AdmiralMarkets.com Representative
Messages
95
USD/JPY Close and Reverse Potential at 78.6% Fibonacci

USD/JPY

4 hour



The USD/JPY has reached the 78.6% Fibonacci level of wave B (brown) after breaking below the support trend line (dotted green). The 78.6% Fibonacci could act as a potential bounce spot for completing wave B (brown).

1 hour

<img src="https://s9.postimg.org/7vmch1r8f/07-06-2017uj1.png">

The USD/JPY could have completed 5 waves (grey/purple) within wave C (orange). This particular wave scenario and market structure would become more likely if price manages to break resistance (red) with bullish price action.

GBP/USD

4 hour

<img src="https://s9.postimg.org/ercnav9of/07-06-2017gu4.png">

The GBP/USD remains in a large consolidation zone (purple box) one day before the UK will hold general parliamentary elections (Thursday 8 June 2017). Find more information how to trade through the UK general election 2017 on the special event page. https://admiralmarkets.com/impact-of-uk-general-elections-2017-on-forex-market.

1 hour

<img src="https://s4.postimg.org/jev51sgsd/07-06-2017gu1.png">

The GBP/USD did not manage to break above the resistance top (red) yesterday and is now building an ascending wedge pattern (red/green). The break of the support (green) or resistance (red) could lead to a potential breakout.

EUR/USD

4 hour

<img src="https://s24.postimg.org/5zam51rhx/07-06-2017eu4.png">

The EUR/USD is moving higher in a bullish trend channel indicated by the support (blue) and resistance (red) trend lines. The new higher high is challenging the 100% Fib level at 1.13 of wave 2 (green), which is a break or bounce zone.

1 hour

<img src="https://s2.postimg.org/qfvkcxq1l/07-06-2017eu1.png">

The EUR/USD is in a bullish channel (blue/orange) but price is struggling to break above the key 1.13 resistance zone.

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Admiral Markets

AdmiralMarkets.com Representative
Messages
95
EUR/USD Bearish Break below 1.18 within Wave 5

EUR/USD

4 hour

upload_2017-8-9_15-32-16.png


The EUR/USD bearish retracement is indeed continuing lower, as expected in the wave analysis earlier this week. Price is now approaching two strong support trend lines, which could act as a bounce or break zone. A bullish bounce indicates the completion of wave A (purple) whereas a bearish breakout could see price fall towards the 23.6% Fibonacci level of wave 4 (green).

1 hour

upload_2017-8-9_15-32-39.png


The EUR/USD broke below the support trend line (dotted green) and could be extending the 5th wave (brown) with 5 waves (orange) if price stays below the Fibonacci levels of wave 4 vs 3.

USD/JPY

4 hour

upload_2017-8-9_15-34-22.png


The USD/JPY completed an ABC (orange) zigzag within a larger ABC correction (brown) and seems to be starting a wave C correction now.

1 hour

upload_2017-8-9_15-34-52.png


The USD/JPY seems to have completed a potential wave 4 and truncated wave 5 (purple) which does not break the top of wave 3.

GBP/USD

4 hour

upload_2017-8-9_15-35-15.png


The GBP/USD continued with its downtrend and is building 5 waves (grey) within wave 1 (red).

1 hour

upload_2017-8-9_15-35-41.png


The GBP/USD could be extending the 5th waves with 5 more waves (green), which could see a bearish breakout below the support trend line (blue). The other scenario is that price will bounce and complete wave 1 and start wave 2 (red). In this case price will probably break above the resistance trend line (orange).

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Risk disclosure: Forex and CFD trading carries a high level where losses can exceed your deposits. This material is does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that the trading analyses which refers to past performance, may change over time. No representation is given as to the accuracy or completeness of the information and any person acting upon it does so entirely at their own risk. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
EUR/USD ABC Zigzag Challenges Support Zone and Aims at 1.16

EUR/USD

4 hour
upload_2017-8-10_10-4-41.png


The EUR/USD bearish retracement bounced at the support zone (blue lines), which might indicate that the wave A (purple) retracement has been completed. The wave A is part of a larger ABC correction within wave 4 (green) which could fall towards the 23.6% Fibonacci level of wave 4 vs 3.

1 hour
upload_2017-8-10_10-5-14.png


The EUR/USD broke below the support trend line (dotted green) and completed a wave 5 (orange), which in turn could complete a larger wave A (purple). Now price is building a falling wedge chart pattern, which is a bullish reversal pattern. A break above the resistance trend line (orange) would confirm the break and potential ABC (brown) correction within wave B (purple). A break below the support trend line (blue) could indicate a bearish breakout towards the 23.6% Fib at 1.16.

USD/JPY

4 hour
upload_2017-8-10_10-6-2.png


The USD/JPY is testing a larger support trend line (blue) from the daily support at 109.50. A bearish break could see price continue lower within wave C (brown).

1 hour
upload_2017-8-10_10-6-44.png


The USD/JPY seems to have completed a potential 5 wave which could be a wave 1 (orange). A break below support (green) could indicate the continuation of the bearish trend.

GBP/USD

4 hour
upload_2017-8-10_10-7-22.png


The GBP/USD seems to have completed 5 bearish waves within wave 1 (red). A bullish retracement could be part of a wave 2 (red).

1 hour
upload_2017-8-10_10-8-1.png


The GBP/USD has support and resistance trend lines which could offer breaking spots for the Cable. A bullish breakout could a wave C (purple) develop whereas a bearish break could see the downtrend continue.

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Risk disclosure: Forex and CFD trading carries a high level where losses can exceed your deposits. This material is does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that the trading analyses which refers to past performance, may change over time. No representation is given as to the accuracy or completeness of the information and any person acting upon it does so entirely at their own risk. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
EUR/USD Breaks Falling Wedge and Starts Wave B Correction

EUR/USD

4 hour

upload_2017-8-11_9-27-8.png


The EUR/USD bearish retracement indeed turned at the support zone (blue lines) as expected in yesterday’s wave analysis. Considering the divergence on this 4 hour chart, the bearish price action could be just one part of larger ABC (purple) retracement within wave 4 (green).

1 hour

upload_2017-8-11_9-26-44.png


The EUR/USD broke above the resistance (dotted orange) of yesterday’s falling wedge chart pattern and could moving towards the Fibonacci levels of wave B vs A which could act as potential resistance spots.

USD/JPY

4 hour

upload_2017-8-11_9-26-18.png


The USD/JPY is breaking below the larger support trend line (blue) from the daily support at 109.50. This bearish break could indicate a downtrend continuation within wave C (brown).

1 hour

upload_2017-8-11_9-25-56.png


The USD/JPY break below the support trend lines (dotted lines) indicates the continuation of the bearish trend, most likely within a wave 3 (orange).

GBP/USD

4 hour

upload_2017-8-11_9-25-32.png


The GBP/USD seems to have completed 5 bearish waves within wave 1 (red). The Cable could be building a potential bullish retracement as part of a wave 2 (red).

1 hour

upload_2017-8-11_9-24-58.png


The GBP/USD has support and resistance trend lines which could offer breaking spots for the Cable. A bullish breakout could lead to a wave C (purple) whereas a bearish break could see the downtrend continue.

Follow @ChrisSvorcik on twitter for latest market updates.
Connect with Chris Svorcik on Facebook for latest Forex and education tips.

Risk disclosure: Forex and CFD trading carries a high level where losses can exceed your deposits. This material is does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that the trading analyses which refers to past performance, may change over time. No representation is given as to the accuracy or completeness of the information and any person acting upon it does so entirely at their own risk. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
EUR/USD Decision Zone at 1.19: ABC Zigzag or Uptrend

EUR/USD

4 hour

upload_2017-8-14_10-1-54.png


The EUR/USD divergence between the tops (purple line) could create a larger bearish retracement via an ABC correction (purple). A break of the top and 100% Fibonacci level of wave B vs A at 1.1910 could indicate an uptrend continuation.

1 hour

upload_2017-8-14_10-2-10.png


The EUR/USD potential break above the resistance (red) of the triangle chart pattern could see price move towards the next 78.6% Fibonacci level of wave B vs A whereas a break below support (green/blue) could see price complete wave B (purple) and start wave C.

USD/JPY

4 hour

upload_2017-8-14_10-2-27.png


The USD/JPY broke below the support trend line (blue) and could be building a downtrend continuation within wave C (brown).

1 hour

upload_2017-8-14_10-9-28.png


The USD/JPY could be building a wave 4 (orange) pullback if price manages to stay below the bottom of wave 1 (orange) which is indicated by the resistance trend line (red).

GBP/USD

4 hour

upload_2017-8-14_10-9-49.png


The GBP/USD broke above the resistance trend line (dotted red) and could be building a potential bullish retracement as part of a wave 2 (red). The red trend lines and Fibonacci levels could act as a resistance zone. The purple boxes are indicating a potential head and shoulders reversal chart pattern.

1 hour

upload_2017-8-14_10-10-8.png


The GBP/USD bullish breakout has probably started wave C (purple) of wave 2 (red).

Follow @ChrisSvorcik on twitter for latest market updates.
Connect with Chris Svorcik on Facebook for latest Forex and education tips.

Risk disclosure: Forex and CFD trading carries a high level where losses can exceed your deposits. This material is does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that the trading analyses which refers to past performance, may change over time. No representation is given as to the accuracy or completeness of the information and any person acting upon it does so entirely at their own risk. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
 

Admiral Markets

AdmiralMarkets.com Representative
Messages
95
USD/JPY Reversal at 109 Support Zone Starts ABC Zigzag

USD/JPY

4 hour

upload_2017-8-15_11-43-58.png


The USD/JPY bounced at the support zone (green lines) of the previous daily bottom and broke above the resistance trend line (dotted orange). The wave structure is therefore favouring a completion of the wave A (brown) at the newest low and the current bullish price action could be a wave A (orange) within wave B (brown).

1 hour

upload_2017-8-15_11-43-40.png


The USD/JPY is building a wave 5 (purple) within wave A (orange). Price could complete the wave 5 at the targets of wave 5 vs 1+3.

EUR/USD

4 hour

upload_2017-8-15_11-43-17.png


The EUR/USD made a bearish bounce at the Fibonacci levels of wave B vs A. The divergence between the tops (purple line) could create a larger bearish retracement via an ABC correction (purple). The main targets are the 23.6 and 38.2% Fibonacci levels of wave 4 vs 3. A break of the top and 100% Fibonacci level of wave B vs A at 1.1910 could indicate an uptrend continuation.

1 hour

upload_2017-8-15_11-42-55.png


The EUR/USD potential break above the resistance (red) of the triangle chart pattern could see price move towards the next 78.6% Fibonacci level of wave B vs A whereas a break below support (blue) could see price continue towards the 23.6% Fib of wave 4 (green).

GBP/USD

4 hour

upload_2017-8-15_11-42-29.png


The GBP/USD downtrend is building a pause by moving sideways between support (blue) and resistance (orange). A bearish breakout could indicate the continuation of wave 1 (red).

1 hour

upload_2017-8-15_11-42-6.png


The GBP/USD sideways zone increases the chance that the current pattern is a choppy wave 4 (purple) correction.

Follow @ChrisSvorcik on twitter for latest market updates.

Connect with Chris Svorcik on Facebook for latest Forex and education tips.

Risk disclosure: Forex and CFD trading carries a high level where losses can exceed your deposits. This material is does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that the trading analyses which refers to past performance, may change over time. No representation is given as to the accuracy or completeness of the information and any person acting upon it does so entirely at their own risk. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
 
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