Daily Wave Analysis for 13 November 2014 2014.11.13

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).