EUR/USD Builds Higher High which Challenges 1.13 Resistance

Juni 05, 2017 06:30

EUR/USD

4 hour

The EUR/USD bounced at the support levels (green/blue) and showed one more bullish rally. The new higher high is challenging the 100% Fib level at 1.13 of wave 2 (green), which is a break or bounce zone.

1 hour

The EUR/USD is in a bullish trend channel (red/blue lines). The breakout direction above or below the channel will indicate what the next trend direction could be.

GBP/USD

4 hour

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The GBP/USD is building a corrective pattern which is indicated by the trend lines. A break above it invalidates the wave 3 (blue) whereas a break below support (green) could confirm it.

1 hour

The GBP/USD is building a smaller triangle (yellow/green) within a larger triangle (red/dark green).

USD/JPY

4 hour

The USD/JPY failed to break above the next resistance trend line (red) and turned strongly bearish during the NFP (Non-Farm Payroll) news event. The new lower low indicates that the wave 5 (orange) is still open.

1 hour

The USD/JPY needs to break below support (green) to complete wave 5 (orange). A break above the 61.8% Fibonacci level of wave 4 (purple) makes the wave 4 unlikely. In that case the wave 5 could have been completed at the recent low.

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