EURUSD
Price indeed stopped just before reaching the 50 Fibonacci retracement level yesterday and fell strongly after that for a potential wave 1 (red).
4 hour EURUSD:
A potential bearish breakout (red arrows) could occur below support (green trend line).
60 min EURUSD:
GBPUSD
Price stopped yesterday at a resistance confluence of broken support (green) and the 38.2 Fib, which could be part of a wave 4 (blue).
4 hour GBPUSD:
There is a higher chance than usual that the wave count could be changed because the wave 3 (purple) momentum was unusually low on the Awesome Osc.
60 min GBPUSD:
USDJPY
After the strong bullish momentum, the USDJPY has been trending upwards in a neat channel (blue trend lines).
4 hour USDJPY:
If price were to break out of the channel, then it could find support and resistance at the Fibonacci levels.
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
EUR/USD stays near 1.0750 following Monday's indecisive action
EUR/USD continues to fluctuate in a tight channel at around 1.0750 after posting small gains on Monday. Disappointing Factory Orders data from Germany limits the Euro's gains as investors keep a close eye on comments from central bankers.
AUD/USD drops below 0.6600 after RBA policy announcements
AUD/USD stays under bearish pressure and trades deep in negative territory slightly below 0.6600. The RBA left the policy settings unchanged as expected but Governor Bullock said that there was no necessity to further tighten the policy.
Gold price turns red amid the renewed US dollar demand
Gold price trades in negative territory on Tuesday amid the renewed USD demand. A downbeat US jobs data for April prompted speculation of potential rate cuts by the Fed in the coming months.
Bitcoin miner Marathon Digital stock gains ground after listing by S&P Global
Following Bitcoin miner Marathon Digital's inclusion as an upcoming member of the S&P SmallCap 600, the company's stock received an 18% boost, accompanied by an $800 million rise in market cap.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.