Daily Wave Analysis for 3 July 2014 2014.07.03

4 hour EURUSD:

The EURUSD hasbounced off of the 100% Fibonacci targets. The up move could have completed awave W (blue) which entails a potential wave X and Y (blues) remaining.

60 minEURUSD:

The EURUSD could potentially break out (greenand red arrows) if price breaks above resistance (orange) or below support(magenta and purple).

GBPUSD

4 hourGBPUSD:

Price is ina potential 5th wave with slight divergence.

60 min GBPUSD:

The GBPUSDseems to be building on a wave 3-4-5 (brown) of wave 5’s (blue and green). TheFibonacci levels of wave 4 vs 3 are potential bouncing spots (green arrows) formore upside continuation. No divergence is present as yet.

USDJPY

4 hourUSDJPY:

The currentwave count is showing the potential for a move up towards the waves Y (blue,green, purple).

60 minUSDJPY:

TheFibonacci levels could be the bouncing spots for a wave X (purple).