Bullish US Dollar Momentum Shatters Major Trend Lines 2015.05.25
Май 25, 2015 02:56
EUR/USD
4 hour
The EUR/USD has broken below the support trend line (blue) and is in a bearish zigzag (indicated by the purple ABC).
1 hour
EUR/USD broke the smaller 1 hour bear flag (green) to complete wave B (purple) and start wave C (purple).
GBP/USD
4 hour
The GBP/USD broke below the support trend line (green) and is retracing to lower Fibonacci levels of wave B (blue).
1 hour
The GBP/USD failed to break the resistance (orange) and bounced back down. Price could now be falling towards the Fibonacci targets of wave Y (green).
USD/JPY
4 hour
The USD/JPY bounced indeed at the 38.2% Fibonacci retracement level of wave 4 (green) and is now approaching major resistance levels (red).
1 hour
The USD/JPY broke above the bull flag pattern (orange lines) for a bullish continuation.