Daily Wave Analysis for 29 April 2014 2014.04.29

EURUSD

There is a decent chance that price could has complete wave B (purple) and is now moving towards a wave c (purple).

4 hour chart EURUSD:

A break (green arrows) above the resistance (purple) could translate into upside continuation.

60 min chart EURUSD:

GBPUSD

Five waves could have been completed during the last push up (divergence purple line on AO), unless extensions of the uptrend will occur. Upon the break of the resistance (blue) an extension seems likely.

4 hour chart GBPUSD:

A potential breakout (green arrows) could occur today if price manages to break above resistance.

60 min chart GBPUSD:

USDJPY

The recent price action has been choppy and corrective which could be explained by the fact that price has made a wave X (black).

4 hour chart USDJPY:

Price broke out of the corrective trend line (blue dotted) to the upside and a break of the trend lines (orange and magenta) could indicate to which direction a breakout might occur.

60 min chart USDJPY: