Daily Wave Analysis for 10 November 2014 2014.11.10

4 hour EURUSD:

The EURUSD bullish price action could be part of wave 4 (blue).

60 min EURUSD:

Friday’s bearish momentum seems to have completed two wave 5s of wave 3 (blue).

GBPUSD

4 hour GBPUSD:

The GBPUSD break below 1.5850 was too short for a potential wave 3 and hence it could still be part of a wave 2 (blue) correction.

60 min GBPUSD:

Wave 2 could be completed when wave Y (purple) completes.

USDJPY

4 hour USDJPY:

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

60 min USDJPY:

Waves 4 typically complete at the previous wave 4 of a lower degree. In this case wave 4 (green) could end near wave 4 (blue).