EUR/USD’s Bullish Momentum Pushes Daily Candle by 300 Pips

3 min read

EUR/USD

4 hour

03-06-2015eu4 The EUR/USD broke the wedge to the upside as expected in yesterday’s wave analysis, which is most likely part of wave C (magenta).

1 hour

03-06-2015eu1The EUR/USD wave count required a very impulsive bullish breakout to confirm the multiple waves 1-2, which was confirmed by yesterday’s bullish price action and break. Price could still be in wave 3 (orange) after which a correction for wave 4 (orange) could occur.

GBP/USD

4 hour

03-06-2015gu4With the bullish break of the first resistance (orange), the GBP/USD keeps could have completed the wave X (grey) although some layers of resistance remain critical such as the red resistance line.

1 hour

03-06-2015gu1The GBP/USD broke the top of the downtrend channel (orange trend line) and is showing bullish momentum similar as the EUR/USD.

USD/JPY

4 hour

03-06-2015uj4The USD/JPY has not managed to break above the psychological round level of 125 and wave 5 (magenta) has been temporarily marked as completed. The wave count however is vulnerable to change once the USD/JPY shows potential for another bullish bounce.

1 hour

03-06-2015uj1The USD/JPY is at a break or bounce spot within the uptrend channel (blue).

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