Daily Wave Analysis for 26 February 2015 2015.02.26
Februar 26, 2015 04:53
4 hour EURUSD: the main support and resistance lines of the consolidation are between +/- 1.1275 and 1.1450. The invalidation level for the wave 4 is the bottom of wave 1 (red line).
60 min EURUSD: price is building a tight triangle (purple) within the bigger consolidation.
GBPUSD
4 hour GBPUSD: the orange and dark green trend lines could indicate a rising wedge chart formation unless price is able to break above the resistance (orange).
60 min GBPUSD: price is getting close to the main target for the moment which is the 100% Fibonacci level.
USDJPY
4 hour USDJPY: price could be part of the wave X or the wave Y (purple) of the wave E (red).
60 min USDJPY: price is now building a smaller correction between the dark red and dark green trend lines.