Spider's Den

EUR/USD, GBP/USD in waves 4 marked by trend lines - Your capital is at risk
http://www.admiralmarkets.com/analyt...by-trend-lines

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu4.png
The EUR/USD has made a bearish retracement back to the 38.2% Fibonacci retracement level as expected. The Fibonacci levels could provide support as part of a wave 4 (green). A break below the 61.8% Fibonacci level would invalidate the wave 4 (green) structure.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu1.png
The EUR/USD has arrived at a spot where it could complete a bullish bounce at the Fib levels or bearish break through the support trend line (green). A bullish break above resistance (red) could indicate the start of wave 5 (green).
GBP/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu4.png
The GBP/USD is either completing a wave 5 (blue) or extending the wave 5 (blue) with an internal 5 wave indicated by wave 1-2 (pink). The Cable turned at the 61.8% Fibonacci level of wave 2 vs 1 and broke below the support trend line (dotted green), which could mark the start of wave 3 (pink) if price manages to break the previous bottom (green). A break above the 100% Fib level invalidates the pink 1-2.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu1.png
The GBP/USD completed 5 waves (blue) within a wave C (green) zigzag. The Cable is now showing bearish momentum (wave 3 blue) and a triangle (trend lines). A break below the support trend line could start wave 5 (blue) whereas a break above the 61.8% Fibonacci level of wave 4 (blue) invalidates it.

Learn the basics of moving average trading strategy - Your capital is at risk

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Weekly Forex Overview: Chart patterns vs S&R - Your capital is at risk

http://www.admiralmarkets.com/analyt...atterns-vs-s-r

The USD/JPY is at a critical bounce or break spot of the weekly 50% Fibonacci level, the EUR/USD shows a strong bullish weekly candle which could lead to a break of the high before running into massive resistance, the GBP/USD is in triangle and could make impulsive moves up and down, and the AUD/USD is unable to break resistance.

NZD/USD Potential bearish M shaping up

Attached Image (click to enlarge)

GBPJPY the trade of the week - Session Recap

US Dollar break unlocks bearish momentum - Your capital is at risk
http://www.admiralmarkets.com/analyt...arish-momentum

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu4.png
The EUR/USD used the 38.2% Fibonacci retracement level as a support for a bullish bounce at wave 4 (green). Price also broke above the resistance trend line (dotted red) which could indicate the continuation of wave 5 (green).
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu1.png
The EUR/USD is in a bullish break above resistance (dotted red) within wave 5 (green). A break below the support trend line (green) would indicate that wave 5 (green) is most likely finished.
GBP/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu4.png
The GBP/USD is either completing a wave 5 (blue) or extending the wave 5 (blue) with an internal 5 wave indicated by wave 1-2 (pink). A break above the 100% Fib level invalidates the pink 1-2. For the moment price seems to be expanding the bullish correction via a WXY (green) towards the resistance trend line (red).
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu1.png
The GBP/USD broke the resistance trend line (dotted red) and not the support (greens) levels. The bullish momentum has been marked as a wave A (blue) and a bullish zigzag could take place once price breaks the new resistance (red).

Fibonacci levels present breakout spots in Forex - Your capital is at risk
http://www.admiralmarkets.com/analyt...spots-in-forex

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu4.png
The EUR/USD is in a contracting triangle chart pattern (red/blue lines) at the 61.8% Fibonacci retracement of wave E vs D. A bullish break could price make an extension of wave 5 (green) towards the 78.6% Fibonacci level. A bearish break (below blue) however could be a first indication that the ABC (purple) zigzag has been completed. A break below the other support lines (green) indicates the potential for a larger bearish reversal.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu1.png
The EUR/USD is either expanding wave 4 (green) or it has completed wave 5 (green). A break above resistance (red) indicates a bullish continuation, whereas a break below the Fib levels of wave 4 vs 3 (green) indicates a completion of wave 4 (green).
GBP/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016Gu4.png
The GBP/USD is either completing a wave 5 (blue) or extending the wave 5 (blue) with an internal 5 wave indicated by wave 1-2 (pink). A break above the 100% Fib level invalidates the pink 1-2. For the moment price seems to be expanding the bullish correction via a WXY (green) towards the resistance trend line (red/orange).
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016Gu1.png
The GBP/USD is struggling with the resistance trend line (orange) but a bullish break could see a continuation of wave C (blue) to the 78.6% Fibonacci level of wave 2 vs 1. A bearish break below support (green) would indicate that wave Y (green) is completed and start a bearish reversal.
USD/JPY
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016uj4.png
The USD/JPY will either break the support (green) for a downtrend continuation or break above the resistance (orange/red) and potentially start a reversal. The current wave 1-2 (blue) is invalidated if price breaks the bottom of wave 1.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016uj1.png
The USD/JPY has support (green) and resistance levels that mark a potential breakout.
Follow @ChrisSvorcik on twitter for latest market updates

US Dollar approaches decision zone for next trend - Your capital is at risk
http://www.admiralmarkets.com/analyt...for-next-trend

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu4.png
The EUR/USD is building a bearish ABC zigzag (orange) within wave 4 (green) unless breaks below the 61.8% Fib of wave 4 vs 3 and support trend line (green). A bullish break of resistance (red) could see price make an extension of wave 5 (green) towards the 78.6% Fibonacci level. A bearish break of support (green) could be a first indication that the ABC (purple) zigzag has been completed.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu1.png
The EUR/USD is either expanding wave 4 (green) or it has completed wave 5 (green). A break above resistance (red) indicates a bullish continuation, whereas a break below the Fib levels of wave 4 vs 3 (green) indicates a completion of wave 4 (green).
GBP/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu4.png
The GBP/USD bullish WXY (green) correction has reached the top of downtrend channel (red) and 78.6% Fibonacci retracement of wave 2 vs 1 (pink). Two bearish candlesticks at the resistance show that price is struggling with that level. The Cable is either completing a wave 5 (blue) or extending the wave 5 (blue) with an internal 5 wave indicated by wave 1-2 (pink). A break above the 100% Fib level invalidates the pink 1-2.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu1.png
The GBP/USD is building a channel (red/blue) at the resistance zone. A break below support (blue/green) could indicate a bearish reversal at the resistance zone and the completion of wave C (blue). A bullish break could see price head towards the Fibonacci levels of wave C vs A.
USD/JPY
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016uj4.png
The USD/JPY will either break the support (green) for a downtrend continuation or break above the resistance (orange/red) and potentially start a bullish reversal. The current wave 1-2 (blue) is invalidated if price breaks the bottom of wave 1.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016uj1.png
The USD/JPY has support (green) and resistance (red) levels that mark a potential breakout. Price is either building multiple waves 1-2 (blue/brown) which could start a bullish trend or building a sideways correction which could let a bearish trend continue.

EUR/USD bullish ABC zigzag faces robust resistance - Your capital is at risk
http://www.admiralmarkets.com/analyt...ust-resistance

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu4.png
The EUR/USD remains in a large consolidation and the bearish breakout could take longer before materializing, which is the main reason why wave D (green) has been added. Once waves D (green) and E complete the triangle a strong bearish impulse is expected. For the moment price is respecting and pausing at the 61.8% Fibonacci retracement level. A bullish break above resistance (red) should see price move towards the 78.6% Fib. A bearish break below support (greens) at 1.1250 should see price start wave Y (brown) of wave D (green).
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu1.png
The EUR/USD is showing slow and corrective bullish price action which is one of the reasons why a bearish count is preferred unless price manages to break above resistance (red). At the moment an ABC zigzag (blue) to complete wave W (purple) and an ABC retracement (blue) within wave X (purple) seems to be taking place. However, if price shows strong momentum that breaks resistance (red), then yesterday's wave count with a wave 5 remaining takes preference.

How the sunk cost fallacy can derail your trading - Your capital is at risk
http://www.admiralmarkets.com/analyt...l-your-trading

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Your capital is at risk

Pullback to Fibonacci levels expected after impulsive USD breakouts - Your capital is at risk
http://www.admiralmarkets.com/analyt...-usd-breakouts

Weekly Forex Overview: US Dollar Strength - Your capital is at risk

Short 10 min video:
http://www.admiralmarkets.com/analyt...ollar-strength

EUR/USD, GBP/USD face bounce and break spots in fragile triangles - Your capital is at risk
http://www.admiralmarkets.com/analyt...gile-triangles

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu4.png
The EUR/USD stopped at the 38.2% Fibonacci retracement level of wave D (green) vs B. Any bearish break below that Fib level could see price extend the bearish breakout below support (dotted green) towards the 50% or 61.8% Fibonacci levels.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu1.png
The EUR/USD is building a small contracting triangle chart pattern (orange/green). A break below the support line (green) could extend wave A (blue) to a lower spot. A break above the resistance line (orange) could start a wave C (green) correction within wave B (blue) with resistance at the Fibonacci levels of wave B vs A.

Forex market presents corrective waves during trading week - Your capital is at risk
http://www.admiralmarkets.com/analyt...g-trading-week

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu4.png
The EUR/USD seems to be respecting the 38.2% Fibonacci retracement level of wave D (green) vs B. A bearish break below that Fib level could see price extend the bearish breakout below support (dotted green) towards the 50% or 61.8% Fibonacci levels.
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016eu1.png
The EUR/USD broke the small contracting triangle chart pattern (orange/green) and posted a lower low. A break above the resistance line (orange) could start a wave B (blue) correction with resistance at the Fibonacci levels of wave B vs A.
GBP/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu4.png
The GBP/USD is expected to be in a wave 3 (pink) at the moment, which is confirmed when price breaks below the bottom (horizontal green). A bounce at that bottom (horizontal green) would indicate a wave change such as a larger triangle formation. A break of the resistance (red) would indicate a larger ABC correction within wave 4 (blue).
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016gu1.png
The GBP/USD is building a small bear flag chart pattern (orange/green). A break below the support line (green) could extend wave 1 (green) to a lower spot. A break above the resistance line (orange) could start a wave C (blue) correction within wave 2 (green) with resistance at the Fibonacci levels of wave 2 vs 1.
USD/JPY
4 hour
https://fxmedia.s3.amazonaws.com/art...08-2016uj4.png
The USD/JPY is approaching strong resistance (red) at the top of the daily downtrend channel, which could either cause a larger retracement for a bull flag chart pattern. A bullish break above it could start a larger bullish reversal (wave 1 purple).
1 hour
https://fxmedia.s3.amazonaws.com/art...08-2016uj1.png
The USD/JPY bullish bounce at wave 4 (blue) and breakout above resistance (dotted red) has lead to a rally which is approaching the Fibonacci levels of wave 5 (blue) vs 1+3. Price could extend to higher Fibonacci levels above the 61.8% or retrace for a wave 4 (brown).
Follow @ChrisSvorcik on twitter for latest market updates

USD/JPY bullish momentum approaches resistance at daily channel - Your capital is at risk
http://www.admiralmarkets.com/analyt...-daily-channel

USD/JPY
4 hour
https://fxmedia.s3.amazonaws.com/art...09-2016uj4.png
The USD/JPY is approaching strong resistance (red) at the top of the daily downtrend channel, which could either cause a larger retracement or a sideways pattern like a bull flag chart pattern. A bullish break above it could start a larger bullish reversal (wave 1 purple).
1 hour
https://fxmedia.s3.amazonaws.com/art...09-2016uj1.png
The USD/JPY is making a mild correction, which could indicate the completion of wave 5 (blue) within wave 3 (brown). A larger correction could price head back to and bounce at the Fibonacci retracement levels of wave 4 (brown) vs 3.
Follow @ChrisSvorcik on twitter for latest market updates

GBP/USD breaks above daily resistance in bullish ABC zigzag - Your capital is at risk
http://www.admiralmarkets.com/analyt...ish-abc-zigzag

GBP/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...09-2016gu4.png
The GBP/USD broke above an important resistance (red) trend line from the daily chart. The break leads to a change of wave count as indicated yesterday and now price is in a larger ABC correction (pink) within wave 4 (blue).
1 hour
https://fxmedia.s3.amazonaws.com/art...09-2016gu1.png
The GBP/USD showed strong bullish momentum yesterday which has been labelled as a wave 3 (purple). An ABC correction (grey) within wave 4 (purple) could take price back to the Fibonacci retracement levels but a break below the 61.8% invalidates the wave count. A break above the resistance (orange) could indicate a continuation of wave 5 (purple) within the uptrend channel (green/red lines).

USD/JPY completes 5 bullish waves at top of bear channel - Your capital is at risk
http://www.admiralmarkets.com/analyt...f-bear-channel

USD/JPY
4 hour
https://fxmedia.s3.amazonaws.com/art...09-2016uj4.png
The USD/JPY seems to have completed a series of 5 waves (blue) at a strong resistance trend line (red) of the daily downtrend channel. Wave 1 (purple) could have been completed at the most recent high and an ABC (blue) retracement within wave 2 (purple) seems to be the most likely scenario.
1 hour
https://fxmedia.s3.amazonaws.com/art...09-2016uj1.png
The USD/JPY break of support (green) could confirm the retracement within wave 2 (purple). A break above resistance trend lines (red/orange) could extend wave 1 (purple) to a higher high.
Follow @ChrisSvorcik on twitter for latest market updates

GBP/USD is ready to take off

EUR/USD, GBP/USD bullish bounce spots for waves B and 5 - Your capital is at risk
http://www.admiralmarkets.com/analyt...-waves-b-and-5

EUR/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...09-2016eu4.png
The EUR/USD is respecting support (green) and resistance (red) trend lines. The current wave count is expecting price to show a bearish break towards complete an ABC (blue) zigzag within wave D (green). A break above the trend lines (red) would invalidate this scenario.
1 hour
https://fxmedia.s3.amazonaws.com/art...09-2016eu1.png
The EUR/USD could bounce at the support trend line (green) to complete a wave B (blue) of a larger ABC zigzag. A break above the trend line (red) and 100% Fibonacci level invalidate the wave structure. A bearish candlestick pattern at the Fibonacci levels could confirm a turn.
GBP/USD
4 hour
https://fxmedia.s3.amazonaws.com/art...09-2016gu4.png
The GBP/USD is in a bullish channel after breaking above an important resistance (red) trend line from the daily chart. The Cable is completing a larger ABC correction (pink) within wave 4 (blue).
1 hour
https://fxmedia.s3.amazonaws.com/art...09-2016gu1.png
The GBP/USD is still within wave 4 (blue) after completing an ABC correction (purple). A break below the channel could still price respect support at the Fibonacci levels of wave 4 (blue).

EUR/CHF Inner trend line retest in progress