Wave C Fibonacci Targets on the EUR/USD and GBP/USD

2 min read

EUR/USD

4 hour

08-04-2015eu4

The EUR/USD has arrived at the potential support of wave B (magenta) and trend line (green) and could be at a bounce or break spot.

1 hour

08-04-2015eu1
The EUR/USD had a bearish intra-day trend yesterday but price broke of the resistance (orange) trend line during today’s Asian session, which could be part of the wave C (magenta).

GBP/USD

4 hour

08-04-2015gu4
The GBP/USD also approaches potential support (green lines) which could act as a break or bounce spot.

1 hour

08-04-2015gu1
If the GBP/USD makes a bullish bounce then wave B (green) could be indeed completed as the screenshot shows and price could show bullish momentum as part of a wave C (green).

USD/JPY

4 hour

08-04-2015uj4
The USD/JPY is in a consolidation zone of wave 4 (dark red), which means price could remain choppy for a while.

1 hour

08-04-2015uj1
The zigzag (ABC purple) has potentially completed a wave X (magenta).

 

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