Advertisement
UK markets close in 8 hours 30 minutes

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • FTSE 250

    19,601.98
    0.00 (0.00%)
     

  • AIM

    753.12
    -1.57 (-0.21%)
     

  • GBP/EUR

    1.1655
    -0.0002 (-0.02%)
     

  • GBP/USD

    1.2513
    +0.0002 (+0.02%)
     

  • Bitcoin GBP

    51,452.55
    +85.34 (+0.17%)
     

  • CMC Crypto 200

    1,388.21
    -8.33 (-0.60%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CRUDE OIL

    83.97
    +0.40 (+0.48%)
     

  • GOLD FUTURES

    2,353.40
    +10.90 (+0.47%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,705.86
    +421.32 (+2.44%)
     

  • DAX

    17,917.28
    -171.42 (-0.95%)
     

  • CAC 40

    8,016.65
    -75.21 (-0.93%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

EUR/USD Downtrend Continuation After 1.10 Support Level Break

Chris Svorcik

EUR/USD

4 hour

The EUR/USD bearish continuation could take place if price is able to make a bearish bounce and breakout (green checks). The main target is the 78.6% Fibonacci level at 1.0940-50, which is where the wave 2 (purple) pattern is expected to be completed. A break above the 144 ema and below the 100% Fibonacci level invalidates (red x) some part of this wave outlook.

1 hour

The EUR/USD is testing and bouncing at the 38.2% Fibonacci retracement level of wave 4 (orange). A break above the 61.8% Fib of wave 4 vs 3 invalidates (red x) the wave pattern whereas a breakout could confirm (green checks) the final push of waves 5 of wave C (blue).

ADVERTISEMENT

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Good trading,
Chris Svorcik
Elite CurrenSea

This article was originally posted on FX Empire

More From FXEMPIRE: