EUR/USD and GBP/USD Retracing Lower to Complete Wave B

3 min read

EUR/USD

4 hour

19-05-2015eu4
The EUR/USD is respecting the heavy resistance layer (red) and moving to lower price levels. Price could be making a bullish zigzag which makes the Fibonacci levels (B vs A) bouncing spots.

1 hour

19-05-2015eu1
The EUR/USD broke the intermediate support (dotted blue) trend line but could find support at the 23.6% Fibonacci retracement level.

GBP/USD

4 hour

19-05-2015gu4
The GBP/USD is slowly retracing to lower levels and could expect to find support at the Fibonacci retracement levels (B vs A).

1 hour

19-05-2015gu1
The GBP/USD could be building a falling wedge (light orange and light green), but a bullish break could encounter another resistance trend line soon (dark orange).

USD/JPY

4 hour

19-05-2015uj4
The invalidation level of the wave X (green) is the origin of wave W (green) which is indicated by the orange horizontal line.

1 hour

19-05-2015uj1
When the USD/JPY does respect the resistance then one more fall as part of wave E (magenta) could be expected

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