4 hour EURUSD:
The EURUSD’s strong fall yesterday could indicate the reemergence of the downtrend but at the moment the most likely wave count is still a wave X (blue) as an expansion of the bigger wave 4 (green) correction.
60 min EURUSD:
Price could use the bottom for a bounce back up if this is indeed a wave X (blue).
GBPUSD
4 hour GBPUSD:
The GBPUSD’s price action has been very corrective and has formed a sideways range (red and green lines). Price bounced off of resistance yesterday and move all the way down to the bottom support.
60 min GBPUSD:
As long as price stays between support and resistance, price could either be in a wave 5 (blue/red) or still in a wave 4 (blue).
USDJPY
4 hour USDJPY:
The most common Fibonacci retracement for a wave 4 (magenta) is the 38.2 level.
60 min USDJPY:
There was a bullish break above the triangle (yellow dotted line). The bullish momentum is best explained by a X wave (red) belonging to a bigger correction (wave 4 magenta).