EUR/USD
4 hour
The EUR/USD indeed seems to be building a bullish rally after breaking above the resistance trend line (dotted orange). The most likely wave count is an ABC zigzag (blue)
1 hour
The EUR/USD could be building a bearish ABC zigzag (green) within wave B (blue).
GBP/USD
4 hour
The GBP/USD is in a potential wave 4 (pink) retracement. This pullback is strongly challenging the bottom of wave 1 (pink). A break above resistance (orange) will certainly make current wave count invalid.
1 hour
The GBP/USD has made an ABC zigzag (grey) but whether the entire wave 4 (pink) correction is completed remains to be seen.
USD/JPY
4 hour
The USD/JPY has support (green) and resistance (red) levels nearby. The price pattern seems to be a corrective rising wedge chart pattern.
1 hour
The USD/JPY has levels above and below that could indicate a potential breakout. A bullish break would most likely lead to a continuation of wave X (brown) whereas a bearish break would probably see a continuation of wave Y (brown).
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EUR/USD keeps the bullish performance above 1.0700
The continuation of the sell-off in the Greenback in the wake of the FOMC gathering helped EUR/USD extend its bounce off Wednesday’s lows near 1.0650, advancing past the 1.0700 hurdle ahead of the crucial release of US NFP on Friday.
Gold stuck around $2,300 as market players lack directional conviction
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The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.