Daily Wave Analysis for 22 September 2014 2014.09.22
Септември 22, 2014 07:54
4 hour EURUSD:
Price is reaching the bottom of two down trend channels (blue and purple) plus a weekly support line (green), which could be difficult for price to break through.
60 min EURUSD:
Price seems to be building on a falling wedge chart pattern (blue lines).
GBPUSD
4 hour GBPUSD:
Price could have completed a wave 4 (magenta) correction up to 1.65, which means another bearish momentum could be starting soon.
60 min GBPUSD:
A breakout (red arrows) below the support trend line (green) could potentially indicate the start of the bearish momentum.
USDJPY
4 hour USDJPY:
The USDJPY is approaching the 110 resistance level (psychological round number).
60 min USDJPY:
The strong trend has caused the wave 5 (blue) to be extended.