Daily Wave Analysis for 8 September 2014 2014.09.08

4 hour EURUSD:

Price is extending towards the wave 3 (orange) targets; the next could be the 200% level.

60 min EURUSD:

The bearish breakout (red arrow) could occur after upon the break of the support trend line (green) for a decline towards its wave 5 (blue) targets.

GBPUSD

4 hour GBPUSD:

Price is in a wave 5 (magenta) downtrend. If the trend continues, the next potential target is at 100% (blue Fib).

60 min GBPUSD:

A wave 4 (dark red) typically retraces to the 23.6% or 38.2% Fibonacci retracement levels. The latter Fib level also encounters a trend line resistance (orange).

USDJPY

4 hour USDJPY:

In a wave 4 (blue) price tends to continue with the trend at the 23.6% or 38.2% Fibonacci retracement levels.

60 min USDJPY:

The divergence (purple line on AO) between the 2 most recent tops is typical for a wave 5 and 3 (light blue).