EURUSD
The EURUSD is in a sideways correction, which is most likely a wave Y (blue) of a wave 4 (orange). Usually waves 4 end at the 38.2 Fibonacci retracement level and hence I am expecting that price is still in wave Y’s (blue and magenta).
4 hour EURUSD:
Price is in a wedge with resistance and support trend lines on both sides (red and green), which could be part of a WXY correction (magenta and blue).
60 min EURUSD:
GBPUSD
Yesterday’s anticipated breakout did indeed occur and could be part of a wave 3 (blue). Before price can reach lower Fibonacci targets it would need to be able to break the support (green).
4 hour GBPUSD:
The invalidation level of wave 4 (purple) is at the bottom of wave 1 (purple) but usually a wave 4 does not retrace deeper than the 50 Fibonacci level.
60 min GBPUSD:
USDJPY
The USDJPY is most likely in a wave 4 (red) correction and price has retraced back to the 38.2 Fibonacci retracement level, which could act as a support. The wave count would change if price manages to break below the 50 Fibonacci retracement level.
4 hour USDJPY:
If price manages to break above the resistance trend lines (red and purple) then the chance of a corrective wave 4 (red) being completed are increasing.
60 min USDJPY:
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