EUR/USD
4 hour
The EUR/USD finally broke above the contracting triangle chart pattern as expected. This could lead to the continuation of wave C (green).
1 hour
The EUR/USD could expand the bullish breakout above resistance (dotted orange) as part of the wave C (green) via an impulsive 5 waves.
GBP/USD
4 hour
The GBP/USD has respected the 61.8% Fibonacci support level. There was also a strong bullish reaction at that support level. Lastly there is also bullish divergence between the bottoms on the daily chart. These 3 aspects increase the chance that the GBPUSD could make a larger bullish correction as indicated by WXY (blue).
1 hour
The GBP/USD broke above resistance (dotted red) with lots of momentum.
USD/JPY
4 hour
The USD/JPY remains in a larger contracting triangle (orange/green). Price could have completed a wave E (blue) of wave X (brown), although a break below the support trend line (green) would provide more confirmation. A break above the top of wave C (blue) invalidates the bearish triangle.
1 hour
The USD/JPY broke below the support trend line (dotted green) after completing a bullish ABC zigzag (pink). Price could be starting a new bearish trend after completing wave E (blue).
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
US Nonfarm Payrolls surprised to the downside in April, showing a gain of 175K jobs – LIVE
The job creation in the US economy seems to have slowed its pace after Nonfarm Payrolls figures reported an increase of 175K jobs in April, coming in short of consensus for a 243K gain.
EUR/USD rises to daily tops past 1.0800 post-NFP
The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.
GBP/USD surpasses 1.2600 after disheartening US Payrolls
The resumption of the downward pressure in the US Dollar motivates GBP/USD to extend its earlier advance to the area beyond 1.2600 the figure in the wake of the release of US NFP.
Gold climbs to new highs above $2,300 on poor NFP prints
The precious metal maintains its bullish stance and breaks above the $2,300 barrier on Friday after US Nonfarm Payrolls showed the economy added fewer jobs than expected during last month.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.