The EURUSD Downtrend Continues with Price Breaking Below the 1.11 Bottom 2015.03.05

4 hour EURUSD: the EURUSD has not only broken below the consolidation bottom (dotted green) but now also below the bigger bottom (solid green) at 1.11 dating back to 25th of January 2015.

60 min EURUSD: the EURUSD could now be in the impulsive wave 3 (blue) of wave 3 (blue).

GBPUSD

4 hour GBPUSD: as indicated in previous wave counts the GBPUSD is making a bearish correction of the wave W (blue).

60 min GBPUSD: the divergence between the bottoms on the oscillator is increasing the likelihood that the bearish price action is part of a corrective wave X (blue).

USDJPY

4 hour USDJPY: a bullish long-term breakout could occur if price manages to push above the 120.50-120.80 resistance zone.

60 min USDJPY: before the breakout occurs, there is higher chance at the moment that the wave E (magenta) will become extended (WXY blue).