Currency pair EUR/USD
The EUR/USD broke above the resistance trend line (dotted red) and invalidated the bearish wave structure. The new wave count is showing the alternative 3 wave ABC (blue) within wave 4 (purple). The resistance at 1.13 and the support (green) at 1.12 are very important levels as the breakout will provide key information about the next potential trend.
The EUR/USD broke above the resistance (dotted red) and the wave structure could now be a bullish version with a wave 123 (blue). To confirm this wave count, however, price will need stay above support (green) and reach the 161.8% Fib target.
Currency pair GBP/USD
The GBP/USD has retraced to higher levels and has reached a resistance trend line (red). A break above it invalidates the wave 3 (blue) whereas a break below support (green) could confirm it.
The GBP/USD completed an WXY (grey) correction within wave 4 (orange) and has reached a key decision zone.
Currency pair USD/JPY
The USD/JPY could have completed a truncated wave 5 (orange), which means that the 5th wave does not break below the bottom of wave 3. A break above the resistance trend lines would confirm this structure.
The USD/JPY seems to have completed 5 internal waves twice (grey/purple) within wave 5 (orange). A bullish break above resistance (orange) could confirm the current wave structure whereas a break below support (green) invalidates it.
