EUR/USD
4 hour
The FED’s decision to increase interest rates in the US caused lots of volatility in the market. The EUR/USD moved lower eventually during the news but price is still far away from the current year low. For the moment I am not expecting price to break below this year’s low (green line) and hence the wave count is now showing a wave X retracement (green).
1 hour
The EUR/USD bearish price action has been slow and therefore the wave count is showing an ABC zigzag rather than a 123 (brown).
GBP/USD
4 hour
The FED’s decision to increase interest rates in the US caused lots of volatility in the market but the GBP/USD has managed to make a bearish turn at the top of the channel and is now breaking below support within the downtrend channel.
1 hour
The GBP/USD broke below the support trend line (dotted green) and is moving lower to the targets of wave 5 (blue) of wave 3 (grey).
USD/JPY
4 hour
The FED’s decision to increase interest rates in the US caused lots of volatility in the market but in the end a bullish 5 wave pattern emerged (pink). The 5 wave pattern has changed the bearish count from a potential A to the current C (green) of Y (blue).
1 hour
The USD/JPY confirmed its bullish momentum via the development of an impulsive 5 wave (pink), which could either become part of a larger wave 1 or A.
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