EUR/USD’s Wave X, GBP/USD’s Wave 4, USD/JPY’s Wave B

EUR/USD

4 hour

The EUR/USD seems to be in a larger correction (WXY). A move lower seems unlikely to break the Fibonacci levels of wave X (green).

1 hour

The EUR/USD bullish bounce has so far been slow. If price breaks below support (green), it could fall towards the next 61.8% or 78.6% Fib. If price breaks above resistance (orange), it could rise towards the next resistance (red).

GBP/USD

4 hour

The GBP/USD seems to be in sideways wave 4 (blue). A bearish break could see price fall towards the bottom of the downtrend channel.

1 hour

The GBP/USD seems to be building a bear flag chart pattern correction for a wave 4 (blue). A break below the support (green) could signal the end of wave 4 (blue) and start of wave 5 (blue).

USD/JPY

4 hour

The USD/JPY has strong support and resistance zones nearby. Price is clearly in a sideways zone and lacking the presence of a trend.

1 hour

Price is showing strong bearish momentum which broke below support (dotted green). The momentum is most likely part of a wave A (blue).

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