Daily Wave Analysis for 15 September 2014 2014.09.15
September 15, 2014 09:10
4 hour EURUSD:
Price is making a bear flag (green lines) within the downtrend (blue lines).
60 min EURUSD:
The wave 4 is taking longer than expected but the trend remains bearish as long as price stays in the downtrend channel (blue). A breakout (red arrows) could occur if price breaks below the support (green) trend line.
GBPUSD
4 hour GBPUSD:
The GBPUSD seems to have completed a wave 3 (magenta) and is making a wave 4 (magenta) retracement.
60 min GBPUSD:
The Fibonacci targets and retracements will most likely be the turning spots for the wave 4 (magenta).
USDJPY
4 hour USDJPY:
Price is extending the bullish wave 3 (blue).
60 min USDJPY:
Price is moving sideways in a bull flag (blue and orange).