Reply to thread

Message: [QUOTE="Admiral Markets Group, post: 109146, member: 37217"] [B]EUR/USD, GBP/USD bullish bounce spots for waves B and 5[/B] EUR/USD 4 hour [IMG]https://s13.postimg.io/5vhdtxdef/06_09_2016eu4.png[/IMG] The EUR/USD is respecting support (green) and resistance (red) trend lines. The current wave count is expecting price to show a bearish break towards complete an ABC (blue) zigzag within wave D (green). A break above the trend lines (red) would invalidate this scenario. 1 hour [IMG]https://s9.postimg.io/vt8p4iein/06_09_2016eu1.png[/IMG] The EUR/USD could bounce at the support trend line (green) to complete a wave B (blue) of a larger ABC zigzag. A break above the trend line (red) and 100% Fibonacci level invalidate the wave structure. A bearish candlestick pattern at the Fibonacci levels could confirm a turn. GBP/USD 4 hour [IMG]https://s22.postimg.io/yp3tx2dk1/06_09_2016gu4.png[/IMG] The GBP/USD is in a bullish channel after breaking above an important resistance (red) trend line from the daily chart. The Cable is completing a larger ABC correction (pink) within wave 4 (blue). 1 hour [IMG]https://s9.postimg.io/v7y0kfefj/06_09_2016gu1.png[/IMG] The GBP/USD is still within wave 4 (blue) after completing an ABC correction (purple). A break below the channel could still price respect support at the Fibonacci levels of wave 4 (blue). USD/JPY 4 hour [IMG]https://s21.postimg.io/t1t1j454n/06_09_2016uj4.png[/IMG] The USD/JPY completed 5 waves (blue) at a strong resistance trend line (red) of the daily downtrend channel. An ABC (blue) zigzag is most likely taking place within wave 2 (purple). Also a head and shoulders reversal pattern (3 purple circles) seems to be unfolding at resistance (red). 1 hour [IMG]https://s13.postimg.io/rvxqajw2f/06_09_2016uj1.png[/IMG] The USD/JPY break of support (green) could confirm the retracement within wave 2 (purple). A break above resistance trend lines (red/orange) could extend wave 1 (purple) to a higher high. Follow @ChrisSvorcik on twitter for latest market updates [/QUOTE]

Verification

Top Bottom