Daily Wave Analysis for 4 April 2014 2014.04.04

EURUSD

With the release of the NFP and unemployment rate figures, price action will be volatile and all wave counts are subject to change.

4 hour chart EURUSD:

Price is now at the 4 hour bottom, which could be a bounce or break spot depending on NFP.

60 min chart EURUSD:

GBPUSD

The GU is approaching the 50 and 61.8% Fibonacci retracement levels of a potential wave 2 (green).

4 hour chart GBPUSD:

The NFP will decide whether price breaks or bounce at the purple trend line.

60 min chart GBPUSD:

USDJPY

Price seems to have completed 5 waves but there could be potential extensions depending on NFP.

4 hour chart USDJPY:

Price hit the -61.8% target.

60 min chart USDJPY: