Daily Wave Analysis for 15 April 2014 2014.04.15

EURUSD

Price could be making a retracement within an uptrend (blue and green support trend line).

4 hour chart EURUSD:

The wave 4 took too long to develop so it is therefore more likely that a 5 wave has already been completed for a wave A or 1 (black). Price could be making a potential ABC for wave 2 OR B (black). A break above/in the bull flag could see a potential breakout (green/red arrows) occur.

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. The brown line indicates the invalidation level for the current 12345 bullish wave count (green).

4 hour chart GBPUSD:

The wave 4 (black) has bounced at the 50% Fibonacci level. Now there is a chance for price to potentially break (green arrows) above the resistance (purple).

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: