Daily Wave Analysis for 10 July 2014 2014.07.10
4 hour EURUSD:
It is more likely now that a waxe X (blue) has been complete at the 61.8% Fibonacci target, which would then be followed by a wave Y (blue).
60 min EURUSD:
The EURUSD could potentially break out (greenarrows) if price breaks above resistance trend lines (purple and red) .
GBPUSD
4 hour GBPUSD:
Price is in a potential 5th wave with a typical presence of divergence.
60 min GBPUSD:
A potential breakout (green arrows) could occur for a 5th wave (brown) up to the Fibonacci targets (100% / 161.8%). The wave count will consider 5 waves to be completed if price break below current wave 4 (brown).
USDJPY
4 hour USDJPY:
Price is making many corrections but the current wave count is showing the potential for a move up towards the waves Y (blue, green).
60 min USDJPY:
Price is making many consolidations but there is a chance that wave X (purple) is completed – unless price breaks below the bottom.