Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliot Wave Analysis by Admiral Markets
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Admiral Markets Group, post: 108094, member: 37217"] [B][U]EUR/USD, GBP/USD continue with bullish momentum in wave 3[/U][/B] EUR/USD 4 hour [IMG]https://s3.postimg.org/3kgv3a8vn/19_08_2016eu4.png[/IMG] The EUR/USD continued its strong bullish momentum yesterday and throughout the week. This seems to have completed an impulsive wave 3 (green) and one more push higher (wave 5 green) could occur if a corrective wave 4 (green) pattern develops. 1 hour [IMG]https://s3.postimg.org/x3i5gu41f/19_08_2016eu1.png[/IMG] The EUR/USD could bounce at the Fibonacci levels of wave 4 (green). A break below the 61.8% Fibonacci level and trend line (green) invalidates the wave 4 (green). GBP/USD 4 hour [IMG]https://s3.postimg.org/53ax9r5fn/19_08_2016gu4.png[/IMG] The GBP/USD is either completing a wave 5 (blue) or extending the wave 5 (blue) with an internal 5 wave indicated by wave 1-2 (pink). Price has not reached the 61.8% Fibonacci level of wave 2 vs 1 but a break above the 100% Fib level invalidates the pink 1-2. A break below the previous bottom (green) is needed before an extension of the downtrend is confirmed. 1 hour [IMG]https://s4.postimg.org/y7rg31v8d/19_08_2016gu1.png[/IMG] The GBP/USD broke the resistance trend line (orange) yesterday and showed bullish impulsiveness as expected within the wave C (green) zigzag. Price could now bounce at the Fibonacci levels of wave 4 (blue) but a break below the 61.8% Fibonacci level, however, invalidates the wave 4 (green). USD/JPY 4 hour [IMG]https://s4.postimg.org/hhb1gle0d/19_08_2016uj4.png[/IMG] The USD/JPY will either break the support for a downtrend continuation or break above the resistance and potentially start a reversal. Consider the struggle to break the horizontal support of the previous bottom (green), a larger upside correction or reversal seems most likely. 1 hour [IMG]https://s3.postimg.org/6swjze6rn/19_08_2016uj1.png[/IMG] The USD/JPY indeed completed the wave A (green) and wave B (green) as shown yesterday. A break above the resistance (red) should initiate wave C (green). Follow @ChrisSvorcik on twitter for latest market updates [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…