4 hour EURUSD:
The EURUSD pushed up yesterday towards the 23.6 Fibonacci retracement of wave 4 (green). The ABC correction (magenta) could be part of wave W (blue).
60 min EURUSD:
There was a bullish break above the triangle (orange line). The bullish momentum is best explained by a 5 wave (magenta) belonging to a bigger correction (ABC blue).
GBPUSD
4 hour GBPUSD:
The GBPUSD’s price action has been very corrective lately and has formed a sideways range (red and green lines), which could be best explained at the moment via a wave 4 (blue).
60 min GBPUSD:
The invalidation level of the current wave 4 (blue) is if price breaks above the horizontal resistance.
USDJPY
4 hour USDJPY:
The most common Fibonacci retracement for a wave 4 (magenta) is the 38.2 level.
60 min USDJPY:
The invalidation level of the wave B (blue) is at the 100% mark of the Fibonacci retracement.