EUR/USD

4 hour

The EUR/USD is again challenging a key support level at 1.08 (green line).

1 hour

The EUR/USD wave count changed upon the bearish breakout below the support trend line (dotted green). The wave count will remain labeled as a wave X (brown) as long as price stays above the 100% Fib level.

GBP/USD

4 hour

The GBP/USD remains in a wave X (orange) formation as long as it stays above the support trend line (green) and 100% Fibonacci level. A break below this support zone would indicate a potential bearish breakout.

1 hour

The GBP/USD was unable to break above the resistance (orange and red) and eventually broke below the support (green) later during yesterday’s trading day. The bearish break is expanding the wave X (correction).

USD/JPY

4 hour

The USD/JPY is retesting the resistance level of the ascending wedge (red & green). A bullish break above the red line would indicate a continuation of the ABC (brown).

1 hour

The USD/JPY completed an ABC (green) of the waves Y (blue, lavender) and is now showing potential bullish momentum. A break of the resistance is needed before any bullish continuation might occur.

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Please note that the update is posted with permission from Admiral Markets

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