Daily Wave Analysis for 18 November 2014 2014.11.18

4 hour EURUSD:

Price indeed stopped just before reaching the 50 Fibonacci retracement level yesterday and fell strongly after that for a potential wave 1 (red).

60 min EURUSD:
A potential bearish breakout (red arrows) could occur below support (green trend line).

GBPUSD

4 hour GBPUSD:

Price stopped yesterday at a resistance confluence of broken support (green) and the 38.2 Fib, which could be part of a wave 4 (blue).

60 min GBPUSD:

There is a higher chance than usual that the wave count could be changed because the wave 3 (purple) momentum was unusually low on the Awesome Osc.

USDJPY

4 hour USDJPY:

After the strong bullish momentum, the USDJPY has been trending upwards in a neat channel (blue trend lines).

60 min USDJPY:

If price were to break out of the channel, then it could find support and resistance at the Fibonacci levels.