December 02, 2014 07:01
4 hour EURUSD:
The EURUSD could
be retracing back up for a wave 2 (purple) before falling towards the targets
of wave 3 (blue and purple).
60 min EURUSD:
The current wave count will not change as long as the EURUSD remains below the 100% Fib level.
GBPUSD
4 hour GBPUSD:
Yesterday’s bullish price movement has brought price back to the resistance trend line (red) and the 78.6% Fibonacci retracement level.
60 min GBPUSD:
Price could use the resistance levels to move down for wave 5 (blue and red). The invalidation level for wave 2 (purple) is the 100% level.
USDJPY
4 hour USDJPY:
The USDJPY has been heading towards the wave 5 Fibonacci targets.
60 min USDJPY:
Price used the bottom of the channel (blue) to bounce back up.