Daily Wave Analysis for 25 June 2014 2014.06.25
4 hour EURUSD: Price remainsin a very tight range with both support (green) and resistance (red) levels nearbybut the wave count and Fibonacci levels suggest potential targets at higherlevels.
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 (orange)or below support (magenta).
4 hour GBPUSD: Price ismoving upwards in a neat channel (green) but has paused at the multi-year high(red line).
60 min GBPUSD: It remainsto be seen whether wave 5 has been completed at the recent top (currently wave1 purple) or whether the wave count will have an extended 5th wave (purple12345). In the last scenario breakouts to the upside are possible (greenarrows) above the potential bull flag (orange lines). The invalidation level ofthe 5th wave extension is the bottom (thick blue line).
4 hour USDJPY: Price couldbe expanding the wave Y (green) by WXY (black). The triangle formation (orangetrend 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).