The EUR/USD showed a 2nd bearish bounce at the 88.6% level resistance level, which keeps the wave 2 (brown) structure intact. A break below the support (blue) trend line is needed before a bearish breakout is possible.
The EUR/USD
...The GBP/USD is retesting the resistance trend line (red). A bearish bounce could confirm a wave X (blue) and see price test the Fibonacci levels of wave B (green). A break above the 138.2% Fibonacci level of wave X vs W invalidates wave X (blue) and
...The EUR/USD turned around – yet again – for one more bullish push higher. The price action, however, remains very choppy and corrective. Price has also reached the next Fibonacci resistance: the 88.6% level. A break above the 88.6% makes a wave 2 (
...The GBP/USD is in a bearish channel (blue/brown lines) which could be part of a larger complex correction as indicated by the support (green) and resistance (red) trend lines.
The GBP/USD is building an ABC bearish zigzag (orange) wit
...The USD/JPY broke above the resistance of the bearish trend line (dotted red). This could signal the completion of wave 4 (purple) and the start of the wave 5 (purple).
The wave 4 (brown) retracement is invalidated if price pushes b
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