Daily Wave Analysis for 12 November 2014 2014.11.12

4 hour EURUSD:

After completion of the wave 4 (blue), the EURUSD could be headed to lower Fibonacci targets for a wave 5 (blue).

60 min EURUSD:

Yesterday’s rise was unable to break through the resistance trend line (red) and could be part of a WXY (green) correction.

GBPUSD

4 hour GBPUSD:

The GBPUSD needs to accelerate below support (green trend lines) before it can confirm a wave 3 (blue).

60 min GBPUSD:

Yesterday’s rise at support (green) was part of a bigger wave Y (purple) correction.

USDJPY

4 hour USDJPY:

The USDJPY is in a strong bullish momentum with potentially two wave 3’s (blue and purple) ahead before wave 5 (red) is completed.

60 min USDJPY:

The smaller triangle (purple lines) is most likely part of a smaller wave 4 (blue).