Forex

EUR/USD Wave Count ahead of Volatile Week

June 29, 2015

2 min read

Christopher Svorcik

CEO

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EUR/USD

4 hour

The EUR/USD dropped significantly during this week’s opening after negotiations failed between Greece and its creditors over the weekend.

1 hour

The bearish momentum could bring price to lower levels as part of an ABC (green).

GBP/USD

4 hour

Any price movement that goes below 1.56 would invalidate the current wave 4 (magenta) count.

1 hour

Whether the wave 4 (magenta) has been completed depends on whether it can break above resistance.

USD/JPY

4 hour

The USD/JPY’s bearish price action failed to break the support levels and remains in the wedge.

1 hour

The USD/JPY could extend the bearish momentum with an ABC if it manages to break below support.

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Please note that the update is posted with permission from Admiral Markets
read the original article on AdmiralMarkets.com

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