EUR/USD

4 hour

The EUR/USD finally broke below support (dotted green), which indicates that ABCDE (blue) contracting triangle within wave X (purple) is completed. Price could now fall within a wave Y (purple) of wave d (green). The wave d (green) could be invalidated if bearish momentum increases rapidly, which would indicate the start of a larger downtrend.

1 hour

The EUR/USD is building a bearish impulse and a correction will most likely be shallow as part of a wave 4 (orange).

GBP/USD

4 hour

The GBP/USD broke support (dotted green) yesterday and surely did extend the decline towards the Fibonacci targets (see the multiple red arrows mentioned in yesterday's wave analysis). Of course, the massive drop went even a lot further than 1.24 and dropped towards 1.10. The news is mentioning two potential reasons: a big order was placed by accident (less likely variant), or more probable, algorithms started selling which trigged more algorithms during a time with low liquidity. In any case, the sudden GBP drop and retracement most likely completed a wave 3 (green) and started a wave 4 (green). The Cable is expected to respect the Fibonacci levels of wave 4 vs 3.

1 hour

The GBP/USD massive decline occurred at a time when the Cable was already in a strong bearish momentum this week. Waves 4 are typical choppy and correction and typically price will start to build a range or consolidation zone (arrows going sideways).

USD/JPY

4 hour

The USD/JPY broke above the resistance of the daily downtrend channel (dotted red) and a wave 3 seems to be developing (purple).

1 hour

The USD/JPY seems to have completed 5 waves (blue) within wave 5 (green), although extensions remain possible if price breaks resistance (orange) without retracing back to the Fibonacci levels of wave 4 (brown). If a retracement does occur, then a wave 4 (brown) usually turns at the 23.6% or 38.2% Fibonacci level (green arrows).