Daily Wave Analysis for 10 February 2015 2015.02.10

4 hour EURUSD: price is unable to escape the consolidation for the moment and is contained by the 2 trend lines (orange and green).

60 min EURUSD: if the count indeed is impulsively bearish depends on whether a bearish break below the wedge will occur.

GBPUSD

4 hour GBPUSD: the Cable stopped is at an important crossroad: will the long-term down trend (orange) continue or will price break to the upside? A bullish break makes the current wave count vulnerable to change.

60 min GBPUSD: a bearish break of the trend lines (green and blue) could indicate the completion of the ABC correction.

USDJPY

4 hour USDJPY: price remains overall choppy and cannot escape the consolidation zone for the moment.

60 min USDJPY: the current wave count is showing a corrective pattern of wave X (purple) but a bullish break above resistance (red trend line) could change the wave structure.