Daily Wave Analysis for 2 September 2014 2014.09.02

4 hour EURUSD:

Price has accelerated its bearish downtrend but is facing a major level (daily bottom (green)).

60 min EURUSD:

The green bottom at 1.30 and the 61.8% Fibonacci target near 1.30 seem to be the most prominent targets for the moment.

GBPUSD

4 hour GBPUSD:

The bullish retracement of the bearish swing has been very slow and corrective so far, which is often a clue that a trend could continue (down in this case).

60 min GBPUSD:

A breakout (red arrows) could occur below support (magenta) down to for instance the round number of 1.65

USDJPY

4 hour USDJPY:

A shallow wave 4 (green) and a renewed bullish momentum (wave 5 green) seem to confirm the current impulsive 123 (blue).

60 min USDJPY:

Price could make extensions within the wave 3 (dark blue).