21 April, 2016
The EUR/USD is unable to break above the 1.14 resistance level. Support (green) and resistance (orange) trend lines mark the boundaries and breakout territory. A push below the 50% Fibonacci retracement level of wave X (purple) makes the current wave count less likely and a bearish variant more likely.
The EUR/USD break of support (dotted green) increases the chance of a bearish ABC zigzag (green).
The GBP/USD is not able to break the resistance trend line (orange) and 100% Fibonacci target, which could be a bounce or break spot.
The GBP/USD could have one more bullish push remaining via a wave 5 (grey). A break below the 50% or 61.8% Fibonacci retracement level would make such a wave 4 (grey) unlikely. For the moment price is respecting the 38.2% Fibonacci level.
The USD/JPY has broken the resistance trend line (red) and is now heading towards the Fibonacci targets of the wave 4 (green) correction.
The USD/JPY bullish break indicates a continuation of the bullish ABC (orange) zigzag.
The EUR/USD has broken long-term support levels (dotted green) but still has important and decisive horizontals levels to break before a wave 5 (blue) of wave C (purple) can be confirmed...
The GBP/USD managed to break the resistance trend line (dotted red) despite the British vote on the EU membership taking place today (Thursday June 23rd). The bullish price action is most likely reflecting a reaction towards the opinion polls...
The EUR/USD has made a slight bearish bounce at the resistance trend line (red). The bullish momentum, however, is still in control and a breakout could see price move towards the Fibonacci levels. Of course, all currency pairs will be impacted by the British vote on Thursday June 23rd...
The EUR/USD broke the support trend line (dotted green) after yesterday's strong bearish 4 hour candle appeared. From a long-term perspective price is still above key support such as the daily trend line (solid green)...
The EUR/USD did not manage to break above the 61.8% Fibonacci resistance level and instead broke below the support trend line (dotted green). This bearish breakout has seen strong momentum but price is still above long-term support (green)...
The EUR/USD retraced back to the 23.6% Fibonacci level of wave B (orange) and could now be building a channel (red/blue). A break below the channel could indicate that price is retracing back to the 38.2% Fibonacci level...
The EUR/USD is pausing at the 100% Fibonacci level of wave C versus wave A. Wave C (blue) corrections are typically equal to the length of wave A so a break below the 100% Fib target increases the likelihood of a potential wave 3 (purple)...
The EUR/USD broke below the horizontal support (dotted blue) as the bearish channel maintains its momentum to the 100% Fibonacci level. Wave C corrections are typically equal to the length of wave A so a break below the 100% Fib target increases the likelihood of a potential wave 3...
The EUR/USD broke the internal resistance trend line (dotted orange) and made a move up to the 38.2% Fibonacci level of wave B (blue). Price is now challenging the long-term support trend line (green)...