Daily Wave Analysis for 27 June 2014 2014.06.27
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 minEURUSD:
The EURUSD made a dip and rise yesterday and remains boxed in a tight zone. Breakouts (green arrows) could occur if price breaks above the resistance line (magenta);whereas bounces (green arrow) could happen when price approaches support (purple).
GBPUSD
4 hourGBPUSD:
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(purple 12345 on 1 hour chart).
60 min GBPUSD:
Price ismaking a wave 3 (purple) of wave 5 (blue) or a final wave 5 (blue). TheFibonacci levels are the potential targets.
USDJPY
4 hour USDJPY:
The breakof price below support (magenta) could suggest that wave X (purple) will becompleted at lower levels.
60 min USDJPY:
Price isheading towards the Fibonacci levels after yesterday’s breaks.