Daily Wave Analysis for 5 February 2015 2015.02.05

4 hour EURUSD: a break below the support trend line (green) could indicate the start of the bearish wave 5 (purple).

60 min EURUSD: yesterday's price decline will most likely turn out to be a wave 1 (green) of the bigger wave 5 (purple).

GBPUSD

4 hour GBPUSD: the wave 4 (green) seems to have become expanded with a wider WXY (purple).

60 min GBPUSD: yesterday's price rise is probably a wave A (blue) of a bigger wave Y correction (purple).

USDJPY

4 hour USDJPY: the USDJPY is in large triangle formation, which is best indicated by the trend lines (orange and green).

60 min USDJPY: price is making complex corrections within the range (shown via the trend lines).