USD Uptrend Stalling and Building Bearish Zigzag 2015.07.10

EUR/USD

4 hour

Wave X (brown) could be considered completed if price breaks above the long-term resistance lines (orange/yellow). Alternatively it could head to lower levels for a wave X (brown) if it breaks below the support trend line (light green).

1 hour

The EUR/USD could go up to complete a wave Y (lavender) if it manages break above the resistance trend lines (yellow and orange).

GBP/USD

4 hour

The GBP/USD has used the 78.6% Fibonacci level as a support level but a break out above the resistance is needed before the completion of wave X (blue) is confirmed.

1 hour

The trend lines are important as a bullish breakout (above magenta) could indicate a potential ABC (light green) whereas a bearish breakout (below green) would show the prospective of a downtrend continuation.

USD/JPY

4 hour

The USD/JPY is making a bullish retracement but heavy layers of resistance are above it.

1 hour

The USD/JPY is seemingly building on an ABC zigzag (lavender), which could take it up to the resistance (red and yellow).