EUR/USD
4 hour
The EUR/USD has bounced at the support trend line (green) which was probably a correction (wave B) of the bullish momentum on Monday (wave A).
1 hour
The EUR/USD bounced at the 61.8% Fibonacci support level and is now approaching a 4 hour resistance trend line (red).
GBP/USD
4 hour
The GBP/USD bounced at the 50% Fibonacci support level and is continuing the bullish rally. A resistance level (red) is nearby which marks the top of the consolidation zone.
1 hour
The ABC (magenta) is most likely part of a bigger WXY (orange) unless price manages to break below the Fibonacci levels of wave X (orange and green).
USD/JPY
4 hour
The USD/JPY showed a bearish bounce at the resistance trend line (red) which could be an extension of the wave WXY (purple).
1 hour
The USD/JPY is showing a downtrend on this time frame which is marked by a clear resistance trend line (red).
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