Corrective Trend Lines Dominate Major Currency Pairs 2015.06.05
EUR/USD
4 hour
The EUR/USD price action will be highly impacted by the Non-Farm Payroll (NFP) news event.
1 hour
The EUR/USD is making a bearish channel (green lines) after rising yesterday till 1.14 as part of wave 3 (purple). Today there is a chance that the wave 4 (purple) Fibonacci levels could act as support.
GBP/USD
4 hour
The GBP/USD price action will be highly impacted by the Non-Farm Payroll (NFP) news event.
1 hour
The GBP/USD broke the resistance (dotted orange) yesterday and made an expected bullish impulse for the 5th wave (green), which might have completed a bigger wave A (blue) of a potential bigger zigzag (blue). If prices breaks below the support trend line it still might run into support at the Fib levels.
USD/JPY
4 hour
The USD/JPY price action will be highly impacted by the Non-Farm Payroll (NFP) news event.
1 hour
Depending on the news event price could either break out above resistance (orange) and rise for wave 5 (magenta) or break below support (blue) and fall towards wave 4 Fibonacci retracement levels.