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EUR/USD Completes Wave 2 and Prepares for Bullish Wave 3

February 01, 2018 09:00

EUR/USD

4 hour

The EUR/USD challenged the short-term resistance trend line (red) but failed to break and made a new retest of the support trend line (blue). Price bounced at the support trend line, which could be part of a wave 2 (blue) pullback. A bullish breakout could start a bullish wave 3 (blue).

1 hour

The EUR/USD seems to have completed a wave 2 (blue) correction and a bullish break above the resistance trend lines (red) could trigger a bullish breakout and momentum.

GBP/USD

4 hour

The GBP/USD uptrend is continuing higher and will soon retest the Fibonacci targets of waves 5.

1 hour

The GBP/USD broke above the resistance trend line (dotted orange) which could be starting a bullish wave 3 (blue) momentum.

USD/JPY

4 hour

The USD/JPY is testing the larger resistance trend line (red) of the downtrend channel after price broke above the triangle pattern (dotted orange).

1 hour

The USD/JPY is in a potential wave 3 (purple) if price manages to break above the resistance trend line (red).

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