Daily Wave Analysis for 25 September 2014 2014.09.25

4 hour EURUSD:

Price did not break above the top of the down trend channel (blue) and made yet another fall. Traders should be cautious of a big bottom & hence support at 1.2750.

60 min EURUSD:

On a lower time frame price seems to be in a wave 3 (red).

GBPUSD

4 hour GBPUSD:

A break below the bottom (blue) could indicate the end of wave 4 (magenta) and the start of a new bearish 5 wave impulse (purple numbers).

60 min GBPUSD:

A breakout (red arrows) below the support trend line (blue) could indicate the start of the bearish momentum potentially.

USDJPY

4 hour USDJPY:

The USDJPY bounced at the support trend line (dark green) line and could be headed towards of the wave 5 (light blue) at +/- 109.80 and 110.60.

60 min USDJPY:

The wave 5’s (various colors) could get extended with a 5 wave (green) extension.