Major currency pairs smack into barrier of resistance

June 21, 2016

EUR/USD
4 hour

The EUR/USD has made a slight bearish bounce at the resistance trend line (red). The bullish momentum, however, is still in control and a breakout could see price move towards the Fibonacci levels. Of course, all currency pairs will be impacted by the British vote on Thursday June 23rd.

1 hour

The EUR/USD has retraced back to the 38.2% Fibonacci support level via an ABC zigzag (blue). A break below the support trend line (green) could see an expansion of wave X (blue) whereas a breakout above the resistance (red) could see the start of wave Y (blue).

GBP/USD
4 hour

The GBP/USD has also reached a resistance trend line (red), which could be a price zone which creates a pause or retracement.

1 hour

The GBP/USD is in a wave 3 (green) but price could soon start a consolidation zone and make a correction as part of wave 4 (green).

USD/JPY
4 hour

The USD/JPY has broken the bear flag (green) chart pattern but a bullish 4 hour candle seems to be stopping the bearish breakout. The resistance trend line (red) will be an important factor whether the downtrend continues or fails.

1 hour

If the USD/JPY does start a retracement, then the Fibonacci levels of wave '4 vs 3' could act as resistance levels.

Publication source
Admiral Markets information  Admiral Markets reviews

December 6, 2016
What will happen with the euro after the ECB meeting
Morgan Stanley strategists believe that the ECB will keep rates on hold at this week’s meeting, but can expand its QE purchase program. But they consider different scenarios with various responses from the euro...
December 6, 2016
Euro shrugs off Italian referendum results rallying to a 2-week high
The single currency opened Monday on a bearish note but managed to pare losses as investors brushed aside the Italian referendum results. EURUSD closed at a 2-week high right near the resistance level of 1.0765 as noted in yesterday's commentary...
December 6, 2016
Financial markets gripped by Monday jitters
Risk aversion intensified during early trading on Monday following reports of Italian Prime Minister Matteo Renzi experiencing a crushing defeat in the referendum on constitutional reforms which sparked concerns of renewed political instability in Europe...

Grand Capital Rating
HotForex Rating
Vantage FX Rating
Trade360 Rating
HYCM Rating
FOREX.com Rating

IQ Option Rating
OptionRally Rating
Banc De Binary Rating
OptionsXO Rating
24option Rating
Grand Option Rating