EUR/USD Testing Support Trend Line and Fibonacci Resistance

Juni 11, 2018 12:43


4 hour

EURUSD - 4 hour - 11.06.2018

The EUR/USD reached the 38.2% Fibonacci retracement level of wave 4 (pink) and made a bearish bounce. This could indicate the restart the downtrend if price manages to break below the support trend line (blue). In that case the EUR/USD would have completed a wave 4 pattern and potential started bearish wave 5.

1 hour

EURUSD - 1 hour - 11.06.2018

A bullish bounce could indicate a larger retracement towards the 50% Fib of wave 4. A break above the 50% indicates that another wave count is more likely whereas a bounce at the 38.2% Fib and later on bearish breakout below the support trend line (blue) indicates the end of wave 4. Price seems to be building ABC zigzags at the moment and is awaiting a breakout.

Chris Svorcik

P.S. Don't forget to follow Admiral Markets on Facebook – or @AdmiralMarkets on Twitter – for the latest market updates.

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.


CFDs sind komplexe Instrumente und gehen wegen der Hebelwirkung mit dem hohen Risiko einher, schnell Geld zu verlieren. 83% der Kleinanlegerkonten verlieren Geld beim CFD-Handel mit diesem Anbieter. Sie sollten überlegen, ob Sie verstehen, wie CFDs funktionieren und ob Sie es sich leisten können, das hohe Risiko einzugehen, Ihr Geld zu verlieren.