Daily Wave Analysis for 28 October 2014 2014.10.28
Listopad 28, 2014 09:03
4 hour EURUSD:
The EURUSD bounce at wave X (purple) is most likely part the bigger wave 4 (orange) although the bullish price action has been choppy and slow.
60 min EURUSD:
The main trend lines to watch are the support (greens) and resistance (oranges).
GBPUSD
4 hour GBPUSD:
The GBPUSD has WXY (green) correction which is part of the wave Y (blue) of wave 4 (red).
60 min GBPUSD:
The GBPUSD is in a big consolidation with choppy price action. Wave counts become more vulnerable to change within the wedge and depending how the break out occurs.
USDJPY
4 hour USDJPY:
The USDJPY is bouncing both off of a support trend line (blue) and a 38.2 Fibonacci level.
60 min USDJPY:
The invalidation level of the wave 4 (blue) remains at the top of wave 1 (blue).