The EUR/USD wave count is very vulnerable to change with the lingering insecurity of any euro zone news.
Price has stopped at the 50% Fibonacci level of the wave A (blue), which had a strong impulse. A potential wave C could take place if price break above resistance.
The GBP/USD attempted to make a bullish break but eventually it reversed back to the mean. Price remains in between clear wedge lines.
The range resistance (orange and later on red) will need to be broken before the uptrend can continue. A break below support invalidates this count.
The USD/JPY has bounced at the support level around 122 (green lines). A break above red is needed before the correction (wave Ys) can be considered completed.
The USD/JPY is in a short-term range which is defined by the long-term support (green) and intra-week resistance (orange).
Twitter: @elitecurrensea
Please note that the update is posted with permission from Admiral Markets
read the original article on AdmiralMarkets.com
Thank you
Leave a Reply