EUR/USD Continues Lower within Bearish Wave C

Februar 21, 2018 06:30

EUR/USD

4 hour

The EUR/USD is probably building a WXY corrective pattern within wave 4 (purple) unless price breaks below the support levels (green/blue), which could indicate that price has completed the 5th wave (purple) at the most recent high.

1 hour

The EUR/USD seems to be in a bearish ABC (green) zigzag.

GBP/USD

4 hour

The GBP/USD bullish breakout above resistance (red) could indicate a continuation within wave 5 (green) whereas a bearish break below support (green/blue) could indicate a new downtrend.

1 hour

The GBP/USD is challenging the 61.8% Fibonacci level of wave 4 (blue).

USD/JPY

4 hour

The USD/JPY is still retesting the resistance levels of the downtrend.

1 hour

The USD/JPY is probably in a correction within potential wave 4 (orange) unless price breaks above the 61.8% Fib and the previous bottom (red).

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