Source: https://admiralmarkets.com/analytics...ort-trend-line
Admiral MarketsEUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu4.png
The EUR/USD is testing the long-term support trend line (dark blue). Price will need to break below that support trend line before a potential new downtrend within wave 3 (brown) is possible.
1 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu1.png
The EUR/USD invalidates wave 2 (brown) if price manages to break above the 100% Fibonacci level. A break below support (green) could potentially start bearish waves 3.
Source: https://admiralmarkets.com/analytics...ort-trend-line
Admiral Markets Source: https://admiralmarkets.com/analytics...uation-pattern
Admiral MarketsEUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu4.png
The EUR/USD broke below the long-term support trend line (dotted blue) but it will need to break below 1.11 before a potential wave 3 becomes likely. At this point a break, pullback and continuation seems the most probable via a wave 1 and 2 (brown).
1 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu1.png
The EUR/USD is showing divergence between the bottoms which could cause a wave 2 (brown) retracement. Price invalidates wave 2 (brown) if price manages to break above the 100% Fibonacci level. A break below support (green) could indicate a continuation of the bearish trend.
Source: https://admiralmarkets.com/analytics...uation-pattern
Admiral Markets 
Source: https://admiralmarkets.com/analytics...ave-2-pullback
Admiral MarketsEUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu4.png
The EUR/USD is probably building a break, retracement, and continuation, which is why waves 1 and 2 (brown) are indicated on the chart. Price will need to break below the bottom at 1.11 before a potential wave 3 becomes likely.
1 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu1.png
The EUR/USD stopped at the 61.8% Fibonacci level of wave X (blue). A break below support (green) could indicate a continuation of the bearish trend. Price invalidates wave 2 (brown) if price manages to break above the 100% Fibonacci level but the other Fibonacci levels could act as resistance - similar to how price bounced at the 38.2% of wave 2 (brown).
Source: https://admiralmarkets.com/analytics...ave-2-pullback
Admiral Markets 
Source: https://admiralmarkets.com/analytics...bonacci-levels
Admiral MarketsEUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu4.png
The EUR/USD broke above the resistance trend line (dotted red) which is a continuation of the wave 2 (brown) retracement. A break above the 100% level at 1.13 invalidates both waves 2 (brown/green) but bearish breakout below the bottom at 1.11 makes a potential wave 3 more likely.
1 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu1.png
The EUR/USD stopped at the 50% Fibonacci level of wave 2 (brown) but could retrace deeper and higher if indeed an ABC (purple) zigzag occurs.
Source: https://admiralmarkets.com/analytics...bonacci-levels
Admiral Markets 
Source: https://admiralmarkets.com/analytics...tinues-uptrend
Admiral MarketsEUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu4.png
The EUR/USD broke above the critical and important resistance levels at 1.13 (dotted orange and red lines) which invalidated the bearish wave structure. Price also has managed to finally break the sideways range which was indicated by support (blue) and resistance (red/orange). The bullish break makes an uptrend continuation which is reflected in the alternative and new wave structure: price has broken above the 161.8% Fibonacci level which makes a wave C unlikely a wave 3 (blue/green) more likely.
1 hour
https://fxmedia.s3.amazonaws.com/art...06-2017eu1.png
The EUR/USD is showing strong bullish momentum which is most likely a wave 3 (orange). Once the wave 3 is completed, the EUR/USD will most likely build a light retracement within wave 4 (orange) of a larger wave 3 (brown). The wave 4 is invalidated if price manages to break below the 61.8% of wave 4 vs 3.
Source: https://admiralmarkets.com/analytics...tinues-uptrend
Admiral Markets Source: https://admiralmarkets.com/education...-2nd-half-2017
Admiral Markets 
Source: https://admiralmarkets.com/analytics...t-starts-talks
Admiral MarketsDear traders,
The Snap General Election took place almost one month ago (June 8, 2017), but you might be wondering what's happened since then...
It's time for an update on both the UK General Election and the Brexit process, which started more than a year ago with the referendum on EU membership (June 23, 2016).
This article will review the current political status in the UK, the negotiation process between the UK and the EU, and the potential prospects for the upcoming months.
http://fxmedia.s3.amazonaws.com/arti...440-violet.png
Digesting the 2017 UK Election
The 2017 UK Election surprised most political experts when the Conservative party failed to reach a majority in the UK Parliament on 8 June 2017. A total of 326 seats are needed to secure a majority win, but the current Prime Minister Theresa May failed to deliver:
- The Conservatives did not expand the majority they had before the elections.
- The Conservatives even lost the fragile majority they once enjoyed.
The lack of a majority winner is called a 'Hung Parliament', but this never stopped the Conservatives from taking the lead in forming an alternative government. It also did not block the 'Tories' from starting the Brexit negotiation talks with the EU.
The Tough Path to a New Government
After the Snap UK Election, Theresa May ignored calls for resignation as she indicated that a leadership battle within the Conservative Party would not help the UK's negotiating position versus the EU. Stability was her main motto.
The Prime Minister's hope was on a coalition deal with a second party. There were weeks of negotiations between the political party of Northern Ireland, DUP (Democratic Unionist Party), and Theresa May's Conservative Party.
Just days before the House of Commons were going to vote on their key plans (the content of the legislative plans for the Government), the Conservatives managed to secure a majority-backed government by receiving the official support of the DUP and its 10 Members of Parliaments (MPs).
https://lh6.googleusercontent.com/8e...DYmKHLu7PuXuxX
Source: The Guardian with the Division of Total Seats Won in UK Elections 2017
Agreement Between the Tories and DUP
Theresa May (Conservative Party) and Arlene Foster (DUP) agreed on a deal earlier this week on Monday, where the DUP will provide support to the Government on the key issues in return for extra three major concessions, including extra spending power for Northern Ireland.
These issues include among others Brexit and security legislation, the UK's continued 2% defence spending to meet NATO's target, and cash support for farmers.
The deal is intended to last till the next round of scheduled elections five years from now with a review in two year's time. Whether the coalition will last remains to be seen. Any failure to deliver could lead to a new round of elections. For the moment, the UK has a majority-backed the Government which can discuss Brexit with the EU.
May the Brexit Talks Begin
The Brexit negotiations between the UK and the EU started on 19 June 2017 and have already lead to some expected fireworks between................
Source: https://admiralmarkets.com/analytics...t-starts-talks Admiral Markets
Source: https://admiralmarkets.com/analytics...g-support-zone
Admiral MarketsEUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...07-2017eu4.png
The EUR/USD break above resistance (dotted lines) is showing strong bullish momentum. Price is approaching Fibonacci targets of wave 5 (purple) which could complete wave 3 (green).
1 hour
https://fxmedia.s3.amazonaws.com/art...07-2017eu1.png
The EUR/USD is building a triangle correction (red/blue lines) within a wave 4 (brown). The Fibonacci levels of wave 4 vs 3 could act as potential support levels. A break above the resistance could start wave 5 (brown) whereas a break below the support (green) makes a wave 4 less likely.
Source: https://admiralmarkets.com/analytics...g-support-zone
Admiral Markets