EURUSD
The EURUSD bounce at the support trend line (green) could be part of wave 2 (red) which has an invalidation level at the top of wave 1 (red). This Wednesday’s FOMC event however could drastically change the landscape: one of the alternative wave counts would exchange the last wave 1-2 for a continuation of the correction of wave 4 (blue).
4 hour EURUSD:
A potential bearish breakout (red arrows) could occur below support (green trend line).
60 min EURUSD:
GBPUSD
Wave 4 (blue) could be extended via a WXY correction (purple).
4 hour GBPUSD:
There is a higher chance than usual that the wave count could be changed because the wave 3 (purple) momentum was unusually low on the Awesome Osc.
60 min GBPUSD:
USDJPY
As price is approaching the 120 after a massive momentum up, FOMC event could decide whether wave 5 (purple and red) sees a big acceleration or retracement
4 hour USDJPY:
The USDJPY has been trending upwards in a neat channel (blue trend lines).
60 min USDJPY:
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