US Dollar Builds Consolidation Zone after Bearish Momentum 2015.12.07
EUR/USD
4 hour
The EUR/USD strong bullish momentum last week Thursday completed the 5th wave (purple) and broke layers of resistance (orange/red). Price could be building an ABC zigzag.
1 hour
The EUR/USD is building a mild angled channel (purple lines), which could be a bull flag chart pattern.
GBP/USD
4 hour
The GBPUSD remains in a downtrend as price stays below the resistance trend line. The GU cannot cross above the bottom of wave 1 (red line) without invaliding the current wave count.
1 hour
The GBP/USD is building a sideways consolidation zone (purple lines) after a bullish momentum (wave A). There seems to be an ABC zigzag correction within wave 4 (pink).
USD/JPY
4 hour
The USD/JPY bounced off the bottom of the consolidation zone (green/red). Price needs to break above or below the zone before a bigger acceleration could be expected.
1 hour
The USD/JPY seems to be completing multiple ABC zigzags within the consolidation zone.