Daily Wave Analysis for 10 September 2014 2014.09.10

4 hour EURUSD:

Price is extending towards the wave 3 (orange) targets; the next could be the 200% level or the bigger monthly bottom (green) at 1.2750.

60 min EURUSD:

Price made a retracement yesterday what could be part of a wave 4 (light blue). If price breaks above the 38.2 Fibonacci retracement (4vs3) then a completion of wave 3 (orange) at the most recent bottom is likely.

GBPUSD

4 hour GBPUSD:

The Awesome Oscillator has strong bearish momentum (histograms are far below middle line), which indicate that more bearishness is to be expected although retracements can always occur.

60 min GBPUSD:

When looking at the hourly chart, price seems to be making a contracting triangle (blue trend lines) for a wave 4 (red) followed by a wave 5 (red) to complete wave 3 (magenta).

USDJPY

4 hour USDJPY:

Price has managed to break above the monthly top (dotted magenta) of 105.50 and a bigger weekly/monthly bullish breakout is taking place.

60 min USDJPY:

Price is moving towards the wave 3 (blue) Fibonacci targets.