EUR/USD Setups Consolidation Zone Break Aiming For 1.10

EUR/USD

4 hour

The EUR/USD remains in a consolidation pattern which is indicated by the support (blue) and resistance (red) trend lines. A bullish break could indicate a potential uptrend continuation towards the 78.6% Fibonacci level of wave 2 (green) whereas a bearish break could start a reversal and indicate the completion of the ABC zigzag (purple).

1 hour

The EUR/USD sideways zone is probably making a wave 4 (pink) correction rather than a reversal. The next targets are the psychological even level at 1.10 and the 61.8% Fib target at 1.1050.

GBP/USD

4 hour

The GBP/USD is continuing with the bullish trend which is indicated by the support trend lines (blue). The 1.30 level could act as resistance too due to the importance of round levels in technical analysis. A break above it could see price extend towards the Fibonacci targets.

1 hour

The GBP/USD is building a smaller bullish channel (blue lines) after breaking above the resistance trend line (dotted orange).

USD/JPY

4 hour

The USD/JPY is in an uptrend channel which is indicated by the trend lines. Price could move up towards the Fibonacci targets of wave 5 (brown). The channel could break bearishly once the 5 th wave (brown) is completed.

1 hour