Bullish US Dollar Momentum Shatters Major Trend Lines

by worldwide-invest Published on 25-05-2015

EUR/USD

4 hour

The EUR/USD has broken below the support trend line (blue) and is in a bearish zigzag (indicated by the purple ABC).

1 hour

EUR/USD broke the smaller 1 hour bear flag (green) to complete wave B (purple) and start wave C (purple).

GBP/USD

4 hour

The GBP/USD broke below the support trend line (green) and is retracing to lower Fibonacci levels of wave B (blue).

1 hour

The GBP/USD failed to break the resistance (orange) and bounced back down. Price could now be falling towards the Fibonacci targets of wave Y (green).

USD/JPY

4 hour

The USD/JPY bounced indeed at the 38.2% Fibonacci retracement level of wave 4 (green) and is now approaching major resistance levels (red).

1 hour

The USD/JPY broke above the bull flag pattern (orange lines) for a bullish continuation.

Source:http://worldwide-invest.org/content/4152-bullish-dollar-momentum-shatters-major-trend-lines.html?utm_source=dlvr.it&utm_medium=linkedin