Daily Wave Analysis for 24 June 2014 2014.06.24
4 hour EURUSD:
Price has both support (green) and resistance (red) levels nearby but the wave count andFibonacci levels suggest potential targets at higher levels.
60 min EURUSD:
Although the current wave count is bullish, break outs could occur to bothdirection (green and red arrows) if price breaks above the trend line (purple)or below support (magenta).
4 hour GBPUSD:
Price is moving upwards in a neat channel (green) but has paused recently at the multi-yearhigh (red line).
60 min GBPUSD:
It remains to been whether wave 5 has been completed at the recent top or whether the wavecount will have an extended 5th wave (blue). In the last scenariobreakouts to the upside are possible (green arrows).
4 hour USDJPY:
Price could be expanding the wave Y (green) by another WXY (black). The triangle formation(orange trend lines) are the lines in the sand for the moment.
60 min USDJPY:
Apotentially break out (green & red arrows) could occur if price breaksabove or below the triangle lines (orange).