The EURUSD currency pair could be building an ABC (purple) correction within a potential wave X (pink). A critical level for this wave pattern is the green support trend line at 1.15, which could be used for an inverted head and shoulders pattern (purple boxes). A bullish bounce could see the price finish wave Y (pink) of wave B (purple), whereas a bearish break could see the price fall further towards the Fibonacci levels.
The EUR/USD currency pair is probably building a bearish ABC (purple) correction within wave B (red).
The EUR/USD currency pair has completed wave A (red) and the price is most likely retracing to the Fibonacci levels of wave B (red).
The GBP/USD currency pair made a bearish bounce at the 38.2% Fibonacci retracement level of the wave 4 (pink) pattern. A bearish breakout could confirm the potential wave 5 pattern (pink).
The GBPUSD currency pair has probably started the bearish wave 5 after the price has completed a wave 4 (light purple) correction.
The GBP/USD currency pair is showing a series of bearish candlesticks and hence a strong downtrend. This is probably indicating the start of wave 5 (purple), whereas a bullish break above the resistance (orange) trend line indicates that a different wave pattern is valid.
The USDJPY currency pair seems to be building a WXY (pink) correction within wave D (purple).
The USD/JPY currency pair broke above the resistance trend lines (dotted red), which is either the start of a bullish trend, or still part of the larger ABCDE triangle (light purple) within wave B (red).
The USD/JPY currency pair is probably still in the wave E (light purple) of the triangle pattern, unless it breaks above the 78.6-100% Fibonacci resistance zone.
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.