Daily Wave Analysis for 6 February 2015 2015.02.06

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 rise could be part of a wave 2 (green) and a hook back to the resistance trend line (orange). A break above the 100% invalidates the wave count.

GBPUSD

4 hour GBPUSD: the wave 4 (green) could have been expanded with a wider WXY (purple). The wave 4 (green) however is currently very lengthy and the recent wave count is vulnerable to change if price manages to break up higher.

60 min GBPUSD: yesterday's price action continued up higher as a continuation of the ABC zigzag (blue).

USDJPY

4 hour USDJPY: the USDJPY remains firmly entrenched in a triangle formation with continuous choppy price action.

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