Daily Wave Analysis for 29 July 2014 2014.07.29
July 29, 2014 08:14
4 hour EURUSD:
A break below 1.3425 would break the 138.2% Fibonacci level of wave X (vs wave W) and the alternative count would most likely be a wave 3 (both blue).
60 min EURUSD:
Price is moving down in a well balanced down trend channel (orange) and potential break outs (red arrows) could occur.
GBPUSD
4 hour GBPUSD:
A bearish impulsive 12345 seems to be unfolding as price approaches daily support at +/- 1.6950 (green line).
60 min GBPUSD:
A break (red arrows) could occur if price manages to break below the support levels.
USDJPY
4 hour USDJPY:
USDJPY continues with complex variations of corrective patterns.
60 min USDJPY:
An ABC zigzag (red) seems to be unfolding towards the Fibonacci targets.