EUR/USD

4 hour

EURUSD

The EUR/USD is building a contracting triangle chart pattern. Price bounced yet again at the top of the triangle. It could find support again near the bottom of the triangle or at the Fibonacci levels.

1 hour

EURUSD

The EUR/USD has made a bearish turn at the resistance level (red). It is now building a bearish ABC zigzag within the corrective pattern (4 hour chart) that is bringing price back to the Fibonacci levels of wave X (blue). A break below the 100% level invalidates the wave structure.


GBP/USD

4 hour

GBPUSD

The GBP/USD keeps correcting the downtrend via a WXY (green) as part of a larger wave 4 (purple). Price is now approaching the 1st Fibonacci level at the 23.6%. Typically wave 4s retrace to the 38.2% with the 23.6% and the 50% as alternative stopping spots.

1 hour

GBPUSD

The GBP/USD bounced at the support trend line (green) to complete wave B (blue) as indicated in an earlier wave edition. Price has gained yet another bullish momentum as it breaks above the resistance trend line (dotted orange).


USD/JPY

4 hour

USDJPY

The USD/JPY broke the resistance trend line (dotted red) and showed a large bullish momentum to the 61.8% resistance Fib. The bullish price action could still be considered part of an impulsive wave C (blue). The wave count is vulnerable to change if price breaks above resistance (red) or if it shows a bullish correction pattern in the near future.

1 hour

USDJPY

The USD/JPY impulse has been labeled a wave 3 (pink) within the wave C (green). A break below the support trend line (green) invalidates the wave 3-4 development.

-------
Who were the best experts in 2015? Have your say and vote for FXStreet's Forex Best Awards 2016! Cast your vote now!
-------

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


Recommended Content

Editors’ Picks

AUD/USD holds above 0.6500 in thin trading

AUD/USD holds above 0.6500 in thin trading

The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.

AUD/USD News

EUR/USD comfortable below 1.0800 lower lows at sight

EUR/USD comfortable below 1.0800 lower lows at sight

The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.

EUR/USD News

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.

Gold News

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.

Read more

Bears have been standing before a steamroller so far this year

Bears have been standing before a steamroller so far this year

Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.

Read more

Majors

Cryptocurrencies

Signatures