EUR/USD and GBP/USD Continue with Strong Uptrend 2015.04.28

EUR/USD

4 hour

The EUR/USD is building on an uptrend and has potential space up towards Fibonacci target and resistance at 1.1040-60.

1 hour

The 1 hour chart shows the bullish channel (blue) and intermediate support (green). The EUR/USD will most likely continue with this trend and head towards Fib targets. Key level is the bottom of wave Y (green) at 1.0820.

GBP/USD

4 hour

The GBP/USD has broken above the top and resistance (red line turned green) and the Cable remains solidly in uptrend. A pullback could occur but trend line support (blue and green) and Fib levels (38.2%) are nearby.

1 hour

The GBPUSD has divergence between the tops, which increases the chance of a pullback for wave B (orange)

USD/JPY

4 hour

The USD/JPY remains in a major consolidation and is now approaching bigger support (green line) which is a bounce or break spot. The resistance trend lines (orange/red) could contain a bounce whereas a break could see price head towards the wave 23.6% Fib at 117.10.

1 hour

The USD/JPY could be completing an ABC (blue) zigzag but is at the moment in a wedge (see red and green lines).