EUR/USD Wave 3 Momentum after 1.13 Bounce and Trend Line Break

Юли 07, 2017 06:45

EUR/USD

4 hour

The EUR/USD used the broken top and support zone (blue box) to bounce up. Price then broke above the resistance trend line (dotted red) and is now heading towards the Fibonacci target of wave 5 vs 1+3 and the round level of 1.15.

1 hour

The EUR/USD is showing strong bullish momentum as part of a wave 3 (orange). Once price makes a correction, there could be a wave 4 and 5 before completing wave 5 (brown).

USD/JPY

4 hour

The USD/JPY extended the uptrend by showing a bullish break above the resistance trend line (dotted red). Price is now moving towards the Fibonacci targets of wave 5 vs 1+3.

1 hour

The USD/JPY failed to break the local support trend line (light blue) and bounced at support. A break above 114 could price move towards 115.

GBP/USD

4 hour

The GBP/USD bounced back up after strong bullish momentum. The Cable is now approaching a strong resistance trend line (red). A break above it could see price extend the uptrend.

1 hour

The GBP/USD broke above the resistance trend line (dotted orange) after bouncing to complete a wave 4 (purple). A break above the next resistance trend line (red) could see price start a wave 3 (purple).

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