EUR/USD
The EURUSD currency pair could be building an ABC (purple) correction within a potential wave X (pink). A critical level for this wave pattern is the green support trend line at 1.15, which could be used for an inverted head and shoulders pattern (purple boxes). A bullish bounce could see the price finish wave Y (pink) of wave B (purple), whereas a bearish break could see the price fall further towards the Fibonacci levels.
Daily chart:
The EUR/USD currency pair is probably building a bearish ABC (purple) correction within wave B (red).
Weekly chart:
The EUR/USD currency pair has completed wave A (red) and the price is most likely retracing to the Fibonacci levels of wave B (red).
Monthly chart:
GBP/USD
The GBP/USD currency pair made a bearish bounce at the 38.2% Fibonacci retracement level of the wave 4 (pink) pattern. A bearish breakout could confirm the potential wave 5 pattern (pink).
Daily chart:
The GBPUSD currency pair has probably started the bearish wave 5 after the price has completed a wave 4 (light purple) correction.
Weekly chart:
The GBP/USD currency pair is showing a series of bearish candlesticks and hence a strong downtrend. This is probably indicating the start of wave 5 (purple), whereas a bullish break above the resistance (orange) trend line indicates that a different wave pattern is valid.
Monthly chart:
USD/JPY
The USDJPY currency pair seems to be building a WXY (pink) correction within wave D (purple).
Daily chart:
The USD/JPY currency pair broke above the resistance trend lines (dotted red), which is either the start of a bullish trend, or still part of the larger ABCDE triangle (light purple) within wave B (red).
Weekly chart:
The USD/JPY currency pair is probably still in the wave E (light purple) of the triangle pattern, unless it breaks above the 78.6-100% Fibonacci resistance zone.
Monthly chart:
