EUR/USD
4 hour
The EUR/USD has continued with its bullish moment yesterday but did post a doji recently, which is showing indecision at these levels of resistance (previous tops). A wave A (blue) could have been completed and a retracement for a wave B (blue) is possible unless price breaks below support (green).
1 hour
The EUR/USD completed a wave 5 (green) and seems to be building a bearish ABC (green) zigzag for potential wave B (blue).
GBP/USD
4 hour
The GBP/USD rally seems to have completed 5 bullish waves (green) at the resistance trend line (orange) and 61.8% Fibonacci level of wave Y (blue). This could complete a wave A (green) of a larger correction (ABC) unless price below the support trend lines (greens).
1 hour
The GBP/USD broke above another resistance (dotted red) trend line in an impulsive move up as part of wave 5 (green). A bearish ABC zigzag (green) could be underway now within potential wave B (pink). The wave B is vulnerable to change if price were to gain strong bearish momentum followed by a sideways correction.
USD/JPY
4 hour
The USD/JPY is building a smaller contracting triangle below the broken bullish channel (dotted green). A bearish break could see price fall down to retest the double bottom (green).
1 hour
The USD/JPY stopped at the 38.2% Fibonacci retracement level. A bullish break of the triangle could see price retest higher Fibonacci levels or even the trend line (orange). A break above the top at wave B (blue) would however invalidate the bearish wave C (blue).
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