US Dollar Bounces and has Fibonacci Targets in Vision

2 min read

EUR/USD

4 hour

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The EUR/USD did bounce at the support of wave X (green) yesterday and coudl be heading towards the Fibonacci targets of the wave Y’s (purple and green).

1 hour

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Yesterday’s price action is most likely a bullish momentum and therefore labeled as a wave A (orange).

GBP/USD

4 hour

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The GBP/USD is building on a strong bullish rally although caution is required when price approaches the bigger top (red horizontal line).

1 hour

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The GBPUSD remains solidly entrenched in the uptrend channel (green).

USD/JPY

4 hour

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The USD/JPY bullish run was unable to push above the resistance trend line (orange).

1 hour

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The USD/JPY broke below the support channel (blue dotted lines) and is a bearish zone as long as price remains below the resistance line (red).

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