November 13, 2014 09:20
4 hour EURUSD:
Price is in between a resistance (red) and a support (green) trend line, which is indicating a contracting wedge.
60 min EURUSD:
A potential bearish breakout (dark red arrows) could occur below support (green trend line).
GBPUSD
4 hour GBPUSD:
The GBPUSD needs to break below the support trend line (green) to confirm a wave 3 (blue).
60 min GBPUSD:
The bearish momentum could be part of a wave 3 (purple).
USDJPY
4 hour USDJPY:
The USDJPY is in a strong bullish momentum and it could still move up higher for wave 3 (purple) and then wave 5 (red).
60 min USDJPY:
A potential bullish breakout (green arrows) could occur above resistance (orange trend line).