Daily Wave Analysis for 7 July 2014 2014.07.07
Юли 07, 2014 07:35
4 hour EURUSD:
The downside movement could be part of a potential ABC (magenta) to complete wave X(blue).
60 min EURUSD:
The EURUSD could potentially break out (greenand red arrows) if price breaks above resistance trend lines (brown and orange)or below support (Fib level).
GBPUSD
4 hour GBPUSD:
Price is in a potential 5th wave with the typical presence of divergence.
60 min GBPUSD:
A potential bounce and breakout (green arrows) could occur for a 5th wave(brown) up to its Fibonacci targets (100% / 161.8%).
USDJPY
4 hour USDJPY:
The current wave count is showing the potential for a move up towards the waves Y (blue,green).
60 min USDJPY:
Price could be making a wave 4 and 5 (red) of a potential ABC zigzag (black).