EUR/USD and GBP/USD Approaching Fibonacci Retracement Levels of Wave B 2015.04.07
EUR/USD
4 hour
The EUR/USD is approaching potential support at the Fibonacci levels of wave B (magenta) and at a trend line (green).
1 hour
The EUR/USD has completed a 5th wave within wave A (purple). The most likely scenario is a zigzag correction (ABC – purple) considering the momentum during the FOMC event.
GBP/USD
4 hour
The GBP/USD failed to break above the 1.50 psychological round number and could be building on an ascending wedge (horizontal resistance but upward support).
1 hour
The GBP/USD is approaching potential support at the Fibonacci levels of wave B (magenta) and at a trend line (green).
USD/JPY
4 hour
The USD/JPY is approaching a potential zone of resistance, which is indicated by the two orange trend lines.
1 hour
The wave count is showing a potential zigzag (ABC purple) but this is vulnerable to change due to the contracting triangle (green and yellow trend lines).