EUR/USD Breaks Trend Line during Wave 5 2015.12.29
EUR/USD
4 hour
The EUR/USD could be building an ABC (purple) but it has a strong resistance layer (red) above it. A break below support (lighter green) would change the current wave count.
1 hour
The EUR/USD could be in the final 5th wave (green) of a bigger ABC bullish zigzag (purple).
GBP/USD
4 hour
The GBP/USD corrected up to the 23.6% Fibonacci retracement level of wave 4 (blue). Price could correct to a higher Fib before completing wave 4.
1 hour
The GBP/USD is most likely expanding the corrective zone via a WXY (pink). A bearish break below support (light green) could change that scenario, although a break below the bottom of the channel (dark green) would be a stronger bearish signal.
USD/JPY
4 hour
The USD/JPY broke below a support trend line (dotted green) but price still has a strong support zone (blue lines) which could stop the bearish breakout.
1 hour
The USD/JPY seems to have completed the wave 3 (green) at the bottom and a wave 4 at the top of the downtrend channel.