EURUSD
Whether wave 5 (dark red) could complete a wave C (magenta) or a potential wave 3 is an important development to monitor. The break below the 1.618%, which is the usual target for a wave C, starts to favor a wave 3 scenario.
4 hour EURUSD:
Price is moving down in a well balanced down trend channel (orange).
60 min EURUSD:
GBPUSD
The break below 1.7040 (red-green) changes perspectives: the wave count now shows wave 5’s as completed at the top.
4 hour GBPUSD:
An impulsive 12345 (dark red) could potentially complete wave 5 (magenta).
60 min GBPUSD:
USDJPY
Price is hitting the resistance of the down trend channel (orange lines).
4 hour USDJPY:
A contracting triangle (purple lines) is showing indecision on the 1 hour chart.
60 min USDJPY:
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