Weekly Wave Analysis EUR/USD, GBP/USD, USD/JPY 18 June 2018

Lipanj 18, 2018 10:19

Hello trader,

Please find here below this week's wave analysis on the EUR/USD, GBP/USD and USD/JPY daily, weekly and monthly charts. More education, analytics, articles, and webinars can be found daily on Admiral Markets: https://admiralmarkets.com/analytics/

EUR/USD

The EUR/USD bounced at the 38.2% Fibonacci level of wave 4 (pink) and could now be moving lower as part of wave 5 (pink) in wave A (purple).

Daily chart:

The EUR/USD seems to be building a bearish ABC (purple) correction within wave B (red). The 50% Fibonacci level could be a key support zone.

Weekly chart:

The EUR/USD has probably completed wave A (red) and price is now most likely retracing to the Fibonacci levels of wave B (red).

Monthly chart:

GBP/USD

The GBP/USD bounced at the resistance trend line (orange) of wave 4 (purple) and could now be moving lower as part of wave 5 (purple) in a potential wave 1 (pink).

Daily chart:

The GBP/USD has probably started the bearish wave 5 after price has completed a wave 4 (light purple) correction.

Weekly chart:

The GBP/USD bearish breakout could see the continuation of the wave 5 (purple) whereas a bullish break above resistance (red) could indicate that the wave C has been completed at the bottom.

Monthly chart:

USD/JPY

The USD/JPY broke above the resistance trend line (dotted orange) and seems to be building a bullish WXY correction (pink) within wave D.

Daily chart:


The USD/JPY could be building an ABCDE triangle (light purple) within wave B (red).

Weekly chart:

The USD/JPY could now rise towards the Fibonacci levels of wave D (light purple).

Monthly chart:

Good trading,

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

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