EUR/USD

4 hour

The EUR/USD indeed showed a bullish bounce at the 50% Fibonacci level of wave D vs B and the psychological round level of 1.10 after a bullish 4 hour candle appeared yesterday. Price is probably in an ABC zigzag (green) and the Fibonacci levels of wave B (green) are expected to act as resistance. The EUR/USD has already bounced at the 38.2% Fib level but a break below the previous bottom is needed before a continuation to the 61.8% Fib of wave D vs B could occur.

1 hour

Unless the EUR/USD breaks below the previous bottom at 1.0985, price could make an ABC (orange) zigzag within a larger wave B (green).

GBP/USD

4 hour

The GBP/USD continues to build as expected a triangle formation within a wave 4 (green) consolidation zone after last week's 1,000 pip decline (wave 3 green). A break below support (green) could indicate the continuation of the downtrend. A break above resistance (red) could indicate a continuation of the wave 4 (green) retracement where the Fib levels are expected to act as resistance.

1 hour

The GBP/USD is in a wave B (orange) correction unless price manages to break below the 78.6% and 100% Fibonacci levels of wave B vs A (zig zag). A bullish bounce at support could complete ABC (orange) within wave Y (blue).

USD/JPY

4 hour

The USD/JPY indeed seems to have completed a smaller retracement within wave 4 (blue). A break above the previous of wave 1 (purple) could signal a larger uptrend (wave 3 purple).

1 hour

The USD/JPY completed an ABC (brown) correction. Price could expand the wave 4 (blue) correction and make it more complex. A breakout above resistance (red) could indicate the continuation of wave 5 (blue).