Daily Wave Analysis for 13 February 2015 2015.02.13

4 hour EURUSD: the smaller triangle was finally broken and price is now approaching the resistance level (orange) of the bigger consolidation zone which is a bounce or break spot.

60 min EURUSD: due to the bullish price action the wave count has been changed to show a corrective structure.

GBPUSD

4 hour GBPUSD: the Cable has broken the long-term resistance trend line and price is heading towards the Fibonacci targets of the ABC (magenta) wave count for the moment.

60 min GBPUSD: a break of the minor resistance level (red) is needed before price can move up further.

USDJPY

4 hour USDJPY: the failure of the USDJPY to break above the horizontal resistance level (red) means that a contracting triangle formation (ABCDE-red) is the most likely wave count.

60 min USDJPY: within wave E (red) price will most likely make a bigger consolidation via a WXY (purple).