The EUR/USD is moving up higher and challenging the previous top (red box), which is a key support or resistance zone. This is probably part of a wave W (pink) within wave B (light purple) but it could also still be a wave 4 if price declines fast from the resistance zone. A bullish breakout could see price test the Fibonacci retracement levels of wave B (purple).
Daily chart:
The EUR/USD seems to be building a bearish ABC (purple) correction within wave B (red).
Weekly chart:
The EUR/USD has probably completed wave A (red) and price is now most likely retracing to the Fibonacci levels of wave B (red).
Monthly chart:
GBP/USD
The GBP/USD is moving up higher and challenging the resistance trend line of the downtrend channel (red). This is probably part of a wave W (purple) within wave 2 (pink).
Daily chart:
The GBP/USD has probably started the bearish wave 5 after price has completed a wave 4 (light purple) correction.
Weekly chart:
The GBP/USD bearish breakout could see the continuation of the wave 5 (purple) whereas a bullish break above resistance (red) could indicate that the wave C has been completed at the bottom.
Monthly chart:
USD/JPY
The USD/JPY is testing the resistance trend line (red) and a bullish breakout could see price rise towards the next Fibonacci levels. A bearish breakout below support could see price complete a larger correction within wave X (pink).
Daily chart:
The USD/JPY could be building an ABCDE triangle (light purple) within wave B (red).
Weekly chart:
The USD/JPY is in the wave D (light purple) of the triangle pattern.
Monthly chart:
