Daily Wave Analysis for 3 December 2014 2014.12.03

4 hour EURUSD:

The EURUSD fell strongly yesterday as part of the expected wave 3 (purple) but has not yet reached the expected Fibonacci targets.

60 min EURUSD:

The EURUSD still needs to have a wave 3/4/5 (purple) before wave 3 (blue) is completed.

GBPUSD

4 hour GBPUSD:

The GBPUSD stopped and reversed yesterday at the 78.6 Fibonacci retracement level and could now be falling as part of wave 3 (purple).

60 min GBPUSD:

Price is now close to the support levels (green) which could act as a bouncing spot.

USDJPY

4 hour USDJPY:

The USDJPY has been heading towards the wave 5 Fibonacci targets and now has double divergence (purple line on AO).

60 min USDJPY:

Price made one more push to higher levels (green wave 5) but the momentum is slowing due because a rising wedge formation is visible (red and green trend lines).