EURUSD The EURUSD did not break above the wave 4 (blue) top and it seems to be respecting the top of the downtrend channel (blue). 4 hour EURUSD: A
EURUSD
The EURUSD did not break above the wave 4 (blue) top and it seems to be respecting the top of the downtrend channel (blue).
4 hour EURUSD:
A breakout (red arrows) could occur below support (blue trend line).
60 min EURUSD:
GBPUSD
The GBPUSD wave count is showing a bearish impulse because price failed to break above resistance this week (purple/blue lines).
4 hour GBPUSD:
This week’s bullish price action could be explained by the fact that a wave 4 (purple) has been completed.
60 min GBPUSD:
USDJPY
The USDJPY is most likely in a wave 4 (red) correction. With the break of the support trend line it seems likely that price will retrace to the 38.2 Fibonacci retracement level.
4 hour USDJPY:
An ABC zigzag pattern (blue) might take place to complete wave 4 (red).
FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.