Currency pair EUR/USD
The EUR/USD is continuing with the uptrend after breaking the horizontal resistance levels (dotted red). Price seems to be in a wave 3 (purple) of wave 3 (pink) at the moment and potential dips are most likely retracements within the larger bullish movement.
The EUR/USD wave 3 (purple) is probably developing another internal 5 waves (orange).
Currency pair GBP/USD
The GBP/USDis showing a strong bullish breakout and rally. Price is now approaching a key resistance zone at 1.3750 area. The orange horizontal line is the bottom of wave 1 on a weekly chart and a break above it indicates an invalidation of a long-term bearish wave count.
The GBP/USD momentum is probably in a wave 3 (grey) and a retracement is most likely a wave 4 (grey).
Currency pair USD/JPY
The USD/JPY broke below the support trend line (dotted blue) and is continuing with the downtrend towards the Fibonacci targets.
The USD/JPY broke below the support trend line (dotted blue) and is continuing with the downtrend towards the Fibonacci targets.
