FXTM information and reviews
FXTM
93%
OctaFX information and reviews
OctaFX
92%
XM information and reviews
XM
91%
FXCC information and reviews
FXCC
90%
Libertex information and reviews
Libertex
89%
FxPro information and reviews
FxPro
88%

EUR/USD corrective channels control price action landscape


4 July 2016

EUR/USD
4 hour

The EUR/USD is expanding the wave 2 (green) correction via a WXY (brown). A bearish breakout could lead to a continuation of the bearish momentum (wave 1 green) and could therefore be the start of a wave 3 (green).

1 hour

The EUR/USD is building a bear flag chart pattern (orange/green lines). The Fibonacci levels of wave '2 vs 1' should act as resistance but a break above the 100% level invalidates the current wave structure.

GBP/USD
4 hour

The GBP/USD is building a consolidation at the 100% Fibonacci target of wave 'C vs A'. A break below the support trend line (green) could see price continue with its bearish momentum towards the next 127.2% Fibonacci target.

1 hour

A GBP/USD is showing lack of bullish initiative so far as price action moves sideways in a bear flag chart pattern (green/red lines). For the moment a wave 1-2 (green/pink) explains the wave structure the best unless price breaks above the red trend line, which would most likely indicate an expansion of the wave 4 (blue).

USD/JPY
4 hour

The USD/JPY is behaving correctively as it moves away from the bottom of the downtrend channel. This makes a wave B (green) the most likely scenario at the moment. Price would need to break above the 100% Fib level before waves Y (blue/brown) can be considered completed.

1 hour

The USD/JPY is building a channel (red/green lines). A break above the pattern should see price stop at the Fibonacci retracement levels whereas a break below the support (green) should spark the breakout if the bears can keep control with good candle closes near the low.

Share:


Related

New lows in EURUSD
New lows in EURUSD

EURUSD hit another multi-month bottom while investors are trying to escape risks. The major currency pair is back to falling. The current quote for the instrument is 1.0429...

13 May 2022

EUR/USD regains traction slowly and firmly, targets 1.0600 ahead of ZEW
EUR/USD regains traction slowly and firmly, targets 1.0600 ahead of ZEW

EUR/USD extends the advance to the vicinity of 1.0600. Germany, EMU Economic Sentiment comes next in the docket. A slew of Fed-speakers should keep the attention on the dollar...

10 May 2022

EUR/USD: Bears remain in control near 1.0500
EUR/USD: Bears remain in control near 1.0500

EUR/USD keeps the offered stance well and sound on Monday. German 10y bund yields surpassed the 1.15% region, fresh tops. EMU Investor Confidence sank to -22.6 in May...

9 May 2022

The Euro's got a chance
The Euro's got a chance

EURUSD stopped falling; the asset is recovering after the US Fed’s May meeting. The major currency pair reached stability after the Fed’s meeting. the current quote...

5 May 2022

The "greenback" is extremely strong
The "greenback" is extremely strong

EURUSD continues trading near its lows; market players are waiting for the US Fed’s decisions. The major currency pair remains weak on Wednesday...

4 May 2022

EUR/USD recovers above 1.0550 in cautious FX market trade as key Fed meeting
EUR/USD recovers above 1.0550 in cautious FX market trade as key Fed meeting

EUR/USD has rebounded back to the 1.0550 area and is eyeing a test of short-term range highs near 1.0600. But trade in FX markets remains cautious ahead of this week’s Fed meeting...

3 May 2022


HFM information and reviews
HFM
87%
IronFX information and reviews
IronFX
86%
FXCM information and reviews
FXCM
85%
LegacyFX information and reviews
LegacyFX
83%
NordFX information and reviews
NordFX
82%
FP Markets information and reviews
FP Markets
81%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.