EUR/USD
4 hour
The EUR/USD approached the 50% Fibonacci level. A break above resistance could see build a potential breakout. If it fails, then a bigger bearish retracement could commence.
1 hour
The resistance trend line (orange) could behave a bounce or break spot.
GBP/USD
4 hour
The GBP/USD respected the 78.6% Fibonacci level. Price needs to break resistance trend line (orange) before the chances of a wave Y (blue) developing increase.
1 hour
A break below the 100% Fibonacci level invalidates the wave count.
USD/JPY
4 hour
The USD/JPY broke support (dotted green) but is not showing a lot of momentum at the moment.
1 hour
The USD/JPY is in a contracting triangle chart pattern.
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EUR/USD retreats to 1.0750 area as USD recovers
EUR/USD stays under modest bearish pressure and trades slightly below 1.0750 in the European session on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD drops below 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
Gold stays near $2,310 as US yields edge higher
Following a quiet Asian session, Gold retreated slightly to the $2,310 area. Hawkish tone of Fed policymakers help the US Treasury bond yields edge higher and make it difficult for XAU/USD to gather bullish momentum.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.