Daily Wave Analysis for 11 April 2014 2014.04.11

EURUSD

Price is neatly travelling in an uptrend channel (blue), but be cautious of the resistance (red and orange).

4 hour chart EURUSD:

The wave count could has been extended. The wave 4 (green) Fibonacci levels could still be a bouncing (green arrows) spot at the 38.2%.

60 min chart EURUSD:

GBPUSD

It is currently at the previous daily top. A break of this level could see a potential for price to move to higher targets.

4 hour chart GBPUSD:

Price indeed completed 5 waves of wave 3 (blue). There is a good chance of potential support (green arrows) at the Fibonacci levels.

60 min chart GBPUSD:

USDJPY

The recent fall could be part of bigger wedge (WXYXZ). Whether the bigger count is a wave 1-2 (magenta) seems very questionable at the moment.

4 hour chart USDJPY:

For the moment price is near potential daily support (blue dotted) but the rebound has been very weak. This pair is not making interesting price movements at the moment.

60 min chart USDJPY: