Daily Wave Analysis for 24 November 2014 2014.11.24

4 hour EURUSD:

Wave 4 (blue) finally concluded after a long drawn out consolidation and a break, pullback, and continuation could now occur.

60 min EURUSD:

Price fell through support and could continue to lower Fibonacci targets this week.

GBPUSD

4 hour GBPUSD:

The GBPUSD is most likely consolidating for a wave 4 (blue).

60 min GBPUSD:

A wedge is being formed on the lower time frames (orange and green trend lines). A break of the wedge could indicate the start of wave 5 (blue and red).

USDJPY

4 hour USDJPY:

The uptrend has been strong but with divergence present (purple line) and price getting closer to 120, a bigger pullback could become a serious option soon.

60 min USDJPY:

The USDJPY has retraced for a wave 4 (blue) of wave 5 (purple) so one more push higher is possible. The invalidation level of wave 4 (blue) is the top of wave 1 (blue).