EURUSD
A wave 4 (blue) typically does not exceed the 50% retracement. A break above the 50% makes a wave C (magenta) more likely.
4 hour EURUSD:
A WXY (green) could be unfolding within wave 4 (blue).
60 min EURUSD:
GBPUSD
A bearish wave 3 (magenta) could potentially translate into a decline towards the 161.8% or 261.8% Fibonacci targets. The latter is equal to the weekly bottom (green line).
4 hour GBPUSD:
A breakout (red arrows) could extend the wave 5’s (red and dark red). Eventually price will retrace for wave 4 (magenta).
60 min GBPUSD:
USDJPY
The burst of price momentum stopped at the resistance trend line (purple).
4 hour USDJPY:
The NFP on Friday caused price to retrace for a wave Y.
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
The Fed leaves rates unchanged, as expected. Focus now shifts to Powell’s press conference – LIVE
As largely anticipated by market participants, and in an unanimous vote, the US Federal Reserve maintained its policy rates unchanged at its event on Wednesday. The Fed announced a reduction in the balance sheet runoff pace and highlighted lack of progress in inflation.
EUR/USD stays below 1.0700 as focus shifts to Fed policy decisions
EUR/USD stays in its daily range below 1.0700 following the mixed macroeconomic data releases from the US. Private sector rose more than expected in April, while the ISM Manufacturing PMI fell below 50. Fed will announce monetary policy decisions next.
GBP/USD holds steady below 1.2500 ahead of Fed
GBP/USD is off the lows but stays flatlined below 1.2500 on Wednesday. The US Dollar stays resilient against its rivals despite mixed data releases and doesn't allow the pair to stage a rebound ahead of the Fed's policy decisions.
Gold rebounds above $2,300 after US data, eyes on Fed policy decision
Gold gained traction and recovered above $2,300 in the American session on Wednesday. The benchmark 10-year US Treasury bond yield turned negative on the day after US data, helping XAU/USD push higher ahead of Fed policy announcements.
A new stage of Bitcoin's decline
Bitcoin's closing price on Tuesday became the lowest since late February, confirming the downward trend and falling under March and April support and the psychologically important round level.