New Trading Week Starts with US Dollar Indecisiveness

EUR/USD

4 hour

New Trading Week Starts with US Dollar Indecisiveness
New Trading Week Starts with US Dollar Indecisiveness

The EUR/USD price action faces many layers of resistance above it due to its bigger downtrend.

1 hour

Wave X (magenta) is not necessarily completed and a deeper correction could took place.

GBP/USD

4 hour

The FOMC price spike created wave W (blue) but price has been unable to break away from this price zone.

1 hour

Price is within a down sloped channel (orange and purple) and could be completing a wave X (green) of the bigger wave Y (blue).

USD/JPY

4 hour

The USD/JPY is making a WXY (magenta) correction within the bigger wave 4 (dark red).

1 hour

The USD/JPY is now in a small contracting triangle between support (green) and resistance (orange).

Original Source – Admiral Markets

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