EUR/USD
4 hour
The EUR/USD is continuing with the uptrend after breaking the horizontal resistance levels (dotted red). Price seems to be in a wave 3 (purple) of wave 3 (pink) at the moment and potential dips are most likely retracements within the larger bullish movement.
1 hour
The EUR/USD wave 3 (purple) is probably developing another internal 5 waves (orange).
GBP/USD
4 hour
The GBP/USD is showing a strong bullish breakout and rally. Price is now approaching a key resistance zone at 1.3750 area. The orange horizontal line is the bottom of wave 1 on a weekly chart and a break above it indicates an invalidation of a long-term bearish wave count.
1 hour
The GBP/USD momentum is probably in a wave 3 (grey) and a retracement is most likely a wave 4 (grey).
USD/JPY
4 hour
The USD/JPY broke below the support trend line (dotted blue) and is continuing with the downtrend towards the Fibonacci targets.
1 hour
The USD/JPY is at the -27.2% Fibonacci target. A break below this target could see a continuation towards the -61.8% Fib target.
Related Posts
Current Analysis: GSK Plc
What is Elite Document Management Services Doing to Help People Manage Debts Effectively?
Stocks To Reopen In The Green For 2016 After Crude, USD/JPY Rebound- Buying Panic In Treasuries? Nope. Just Way Too Little Supply And Way Too Much Cash
Crypto donations fund fire relief efforts on Maui- Trading Inter-Market Divergence
Leave A Comment