Daily Wave Analysis for 18 August 2014 2014.08.18
August 18, 2014 08:33
4 hour EURUSD:
The wave 4 (orange) usually has a retracement ending at the 23.6% and 38.2% Fibonacci retracement levels. A break above the red line would invalidate wave 4.
60 min EURUSD:
A big consolidation zone is taking place within the wave 4 (orange).
GBPUSD
4 hour GBPUSD:
The GBPUSD is completing a bearish wave 5 (magenta).
60 min GBPUSD:
There could be a 5 wave (dark red) within the 5th wave.
USDJPY
4 hour USDJPY:
The USDJPY is consolidating in a narrow range between support (green) and resistance (purple).
60 min USDJPY:
Wave X (darkred) could be part of the wave Y (blue).