Strong bullish price action remains leading factor

June 7, 2016

4 hour

The EUR/USD showed strong bullish price action, which increases the chance of a bullish ABC zigzag (orange).

1 hour

The EUR/USD retraced back to the 23.6% Fibonacci level of wave B (orange) and could now be building a channel (red/blue). A break below the channel could indicate that price is retracing back to the 38.2% Fibonacci level.

4 hour

The GBP/USD bounced at the long-term support trend line (green). Price is now approaching a resistance zone (red). A break above it could see price rally within a wave 2 (blue). A break above the 100% Fibonacci level invalidates the wave 2.

1 hour

The GBP/USD is probably seeing a development of an expanded wave 2 (blue) via a WXY (pink). The wave count has been changed because wave X stayed above the 138.2% Fibonacci level and due to the strong bullish correction which has taken price to the 61.8% Fib of 'Y vs W'.

4 hour

The USD/JPY wave 2 (purple) has been marked as complete because price is trying to break above the resistance trend line (red). A break above this trend line (red) and resistance zone (orange) could see price rally for a wave 3 (purple).

1 hour

The USD/JPY is showing higher highs and higher lows again, which makes a downtrend less likely. Price would need to break below the support trend line (green) before a bullish outlook is invalidated.

Publication source
Admiral Markets information  Admiral Markets reviews

October 24, 2016
Dollar at a 3-week winning streak
The US dollar completed three weeks of back to back gains with the US dollar index seen trading above the 98.55 handle. Without any pullback so far, further upside could come at a significant risk...
October 24, 2016
Golden week for dollar but USD/JPY bucks trend
It has been a very good week for the US dollar and a really bad one for the euro and Canadian dollar, among others. The rally has lifted the Dollar Index to its highest level since early February and possibly on course to 100...
October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...

OANDA Rating
Orbex Rating
Larson&Holz IT Ltd Rating
FBS Rating
Tickmill Rating
OctaFX Rating

OptionFair Rating
TropicalTrade Rating
OptionsXO Rating
EZTrader Rating
OptionRally Rating
TopOption Rating