EUR/USD
4 hour
The US Dollar is struggling to show any signs of strength as the EUR/USD keeps pushing higher and higher in a bullish trend channel (red/blue lines). A push above the horizontal resistance (orange) invalidates the wave 2 (purple), which seems likely at the moment when considering deep bullish retracement.
1 hour
The EUR/USD broke the resistance trend line (dotted red) of the contracting. A break above the resistance could see price move higher within a wave 5 (purple) towards the Fibonacci targets of wave 5 vs 1+3.
GBP/USD
4 hour
After bouncing at the wave X (blue), the GBP/USD has reached the 61.8% Fibonacci level at 1.25 of a wave E (green) triangle formation. A bullish breakout could see the GBP/USD continue towards the 78.6% Fibonacci resistance level.
1 hour
The GBP/USD completed the ABC zigzag (orange) within wave X (blue). A retracement could see price challenge and potentially bounce at the Fibonacci levels wave B vs A.
USD/JPY
4 hour
?The USD/JPY broke below the bottom (dotted blue) which has changed the wave structure compared to yesterday. The wave 1-2 has been replaced by an ABC (brown) zigzag within wave X (blue). The bearish correction could see a fall from the 383.2% Fibonacci level towards the 50% Fib.
1 hour
The USD/JPY could be building a 5 wave (purple/orange) within a larger wave A (brown).
Related Posts
The Death Of The Internet: What Happens Now?
E
On Henry James, Hamilton, And “Lawrence” Oppenheim
China’s Foreign Reserves Are Declining. Why, And What Effects Could This Have?- US Dollar Bounces From Three-Year Lows; Is The Pain Trade Over?
Trump’s Taxes Suffer A Dearth In Details – Dollar Dips
The Best POS Systems
Leave A Comment