4 hour EURUSD:
The EURUSD bounced off of the 61.8% Fibonacci retracement level of wave X (blue) versus wave W (blue), which is most likely part of a bigger wave 4 (orange).
60 min EURUSD:
Typically waves 4 stop at the 38.2% Fibonacci retracement level; the 2nd most used tu
4 hour EURUSD:
Yesterday the EURUSD stopped at the 23.6 Fibonacci retracement level – although often price retraces to the 38.2 Fib which is why for the moment the correction is marked as a WXY (blue).
60 min EURUSD:
If price does bounce up, then the wave Y (blue) Fibonacc
...4 hour EURUSD:
The EURUSD broke above the downtrend channel (blue) which signals a high likelihood that wave 3 (orange) is completed and price is retracing in wave 4 (orange).
60 min EURUSD:
With the break of the trend line (purple), price could be in zigzag formation (ABC
...4 hour EURUSD:
The EURUSD did not break above the wave 4 (blue) top and it seems to be respecting the top of the downtrend channel (blue).
60 min EURUSD:
A breakout (red arrows) could occur below support (blue trend line).
GBPUSD
4 hour GBPUSD:
The GBPUSD wave count is showin
...4 hour EURUSD:
The EURUSD bounced strongly off of bottom of the downtrend channel (blue) but did not manage to break above the wave 4 (blue) top.
60 min EURUSD:
The invalidation level of the new wave 1 and 2 (dark red) wave count is at that top of wave 4 (blue).
GBPUSD
4 hou
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