EURUSD
Price is extending towards the wave 3 (orange) targets; the next could be the 200% level or the bigger monthly bottom (green) at 1.2750.
4 hour EURUSD:
Price made a retracement yesterday what could be part of a wave 4 (light blue). If price breaks above the 38.2 Fibonacci retracement (4vs3) then a completion of wave 3 (orange) at the most recent bottom is likely.
60 min EURUSD:
GBPUSD
The Awesome Oscillator has strong bearish momentum (histograms are far below middle line), which indicate that more bearishness is to be expected although retracements can always occur.
4 hour GBPUSD:
When looking at the hourly chart, price seems to be making a contracting triangle (blue trend lines) for a wave 4 (red) followed by a wave 5 (red) to complete wave 3 (magenta).
60 min GBPUSD:
USDJPY
Price has managed to break above the monthly top (dotted magenta) of 105.50 and a bigger weekly/monthly bullish breakout is taking place.
4 hour USDJPY:
Price is moving towards the wave 3 (blue) Fibonacci targets.
60 min USDJPY:
Elite CurrenSea Training Program(s) should not be treated as a recommendation or a suggestion to buy or sell any security or the suitability of any investment strategy for Student. The purchase, sale, or advice regarding any security, other financial instrument or system can only be performed by a licensed Industry representative; such as, but not limited to a Broker/Dealer, Introducing Broker, FCM and/or Registered Investment Advisor. Neither Elite CurrenSea nor its representatives are licensed to make such advisements. Electronic active trading (trading) may put your capital at risk, hence all trading decisions are made at your own risk. Furthermore, trading may also involve a high volume & frequency of trading activity. Each trade generates a commission and the total daily commission on such a high volume of trading can be considerable. Trading accounts should be considered speculative in nature with the objective being to generate short-term profits. This activity may result in the loss of more than 100% of an investment, which is the sole responsibility of the client. Any trader should realise the operation of a margin account under various market conditions and review his or her investment objectives, financial resources and risk tolerances to determine whether margin trading is appropriate for them. The increased leverage which margin provides may heighten risk substantially, including the risk of loss in excess of 100% of an investment.
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.