EUR/USD Respects Support Fib 3 Consecutive Times 2015.12.01
EUR/USD
4 hour
The EUR/USD retested the 138.2% Fibonacci level for the 3rd time, but has so far been unable to break below the support. This makes the wave WXY (blue) still the most likely scenario.
1 hour
The EUR/USD is moving sideways and is substantially slowing down as indicated by the purple trend lines. Both support and resistance trend lines are nearby and offer breakout levels.
GBP/USD
4 hour
The GBP/USD respected the support trend lines (green) and the 1.50 round level. Price made a bullish bounce and looks to have completed the wave 3 (pink). A wave 4 retracement should not cross the bottom of wave 1 (red line).
1 hour
The GBP/USD is showing a bullish impulse, which broke above the resistance trend line (orange dotted). The Fibonacci levels of wave 4 (pink) should act as resistance points.
USD/JPY
4 hour
The USD/JPY price action has slowed down and price is caught in a narrow range (see trend lines). Price seems to have stopped at the 78.6% resistance Fibonacci level, which could be part of a wave X (blue).
1 hour
The USD/JPY wave count was changed and the wave C (green) has been placed at the most recent lower low due to the bigger correction that followed afterwards (wave X).