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: 127301, member: 37217"] EUR/USD Reaches 1.1025 after Macron Wins French Presidency EUR/USD 4 hour [IMG]https://s3.postimg.org/rpymh65vn/08-05-2017eu4.png[/IMG] The French Presidential election took place on Sunday 7 May 2017 and saw centrist independent Macron beat far right candidate Le Pen with 66% vs 34%. The result is unique considering that Macron campaigned without a traditional party and with no experience of governing. The EUR/USD initially saw a bullish reaction to the news but after hitting 1.1025 the EUR/USD turned around and showed a bearish candlestick. Price however is still moving higher in an uptrend channel (blue/red) and a break is needed before a reversal becomes likely. 1 hour [IMG]https://s29.postimg.org/wt3mut6l3/08-05-2017eu1.png[/IMG] The EUR/USD could have completed the 5th waves (grey/pink) and is potentially building a reversal wave 1-2 (brown). A break above the top and 100% Fib level at 1.1023 would indicate a potential uptrend continuation towards the Fibonacci targets of wave 5 (pink). GBP/USD 4 hour [IMG]https://s10.postimg.org/rkyss0bs9/08-05-2017gu4.png[/IMG] The GBP/USD has been unable to break above the resistance (red) of the uptrend channel (red/green). A bullish break could see price move towards the Fibonacci targets of wave 5 (purple) whereas a bearish break could start a reversal. 1 hour [IMG]https://s21.postimg.org/l4xyldoh3/08-05-2017gu1.png[/IMG] The GBP/USD seems is building a bearish retracement within a potential wave 4 (grey), which would become invalidated if price manages to break below the 61.8% Fibonacci level of wave 4 (grey). USD/JPY 4 hour [IMG]https://s4.postimg.org/oir5k1yal/08-05-2017uj4.png[/IMG] The USD/JPY uptrend could be facing problems if price is building a double top. A break above the top could see the uptrend continue but a break below support (blue) could start a larger bearish correction towards the Fib levels. 1 hour [IMG]https://s15.postimg.org/ngvrkhtp7/08-05-2017uj1.png[/IMG] The USD/JPY seems to have completed the 5th wave (orange) of a 5th wave (brown) and price could be building an ABC (brown) correction. A break below support (blue) could start a larger bearish correction towards the Fib levels. Follow [URL='https://twitter.com/ChrisSvorcik']@ChrisSvorcik[/URL] on twitter for latest market updates. Connect with [URL='https://www.facebook.com/profile.php?id=100009628491889']Chris Svorcik[/URL] on Facebook 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…