Daily Wave Analysis for 17 September 2014 2014.09.17

4 hour EURUSD:

The trend remains bearish as long as price stays in the downtrend channel (blue).

60 min EURUSD:

A breakout (red arrows) could occur if price breaks below the support (green) trend line.

GBPUSD

4 hour GBPUSD:

The price action of all GBP pairs could be highly dependent this week on the Scottish independence referendum on Thursday.

60 min GBPUSD:

The Fibonacci targets and retracements will most likely be the turning spots for the wave 4 (magenta).

USDJPY

4 hour USDJPY:

Price seems to be building a typical flat and sideways wave 4 correction (light blue), which is part of a bullish wave 3 (dark blue).

60 min USDJPY:

Price is moving sideways in a bull flag (blue and orange). A breakout (green arrows) could occur above resistance (orange line).