The EUR/USD bullish reversal near 1.13 seems to confirm the end of a bearish wave 5 (pink) within potential wave A (light purple). The bullish bounce could be part of an ABC or WXY correction of wave B (light purple). The price is expected to complete the bullish leg, then make a bearish correction which is followed by a third move higher.
The EUR/USD seems to be building a bearish ABC (purple) correction within wave B (red).
The EUR/USD has completed wave A (red) and the price is most likely retracing to the Fibonacci levels of wave B (red).
The GBP/USD is at a key zone where a bearish break will confirm a continuation of the bearish trend, but a bullish breakout could see the price challenge a stronger zone of resistance (red/orange).
The GBP/USD has probably started the bearish wave 5 after the price has completed a wave 4 (light purple) correction.
The GBP/USD bearish breakout is probably indicating the start of wave 5 (purple) whereas, a bullish break above resistance (red) indicates that a different wave pattern is valid.
The USD/JPY is testing the Fibonacci retracement levels of wave X (pink) where a bearish bounce is expected to occur as part of a wave X (pink). The next new lower low could complete a larger WXY correction within wave E.
The USD/JPY could be building an ABCDE triangle (light purple) within wave B (red).
The USD/JPY is in the wave E (light purple) of the triangle pattern.
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.