Admiral Markets
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Daily Wave Analysis for 4 September 2014
EURUSD
Although price is facing a major level (daily bottom (green), there is no divergence between the bottoms which means that a continuation of the downtrend is likely (could be after orange wave 4 though).
4 hour EURUSD:
A contracting triangle (light green lines) is indicating the current indecision.
60 min EURUSD:
GBPUSD
A break below the weekly support (green) could see price fall to the 61.8% Fibonacci target.
4 hour GBPUSD:
Tuesday’s anticipated breakout (seen in wave analysis 2nd September) made 5 bearish waves which could be explained by a wave 3 (dark red). A wave 4 (dark red) could be the next step.
60 min GBPUSD:
USDJPY
Although price is showing signs of bullish momentum, it still needs to break above the monthly top (dark red) at 105.50 before bigger gains could be possible.
4 hour USDJPY:
Price could make extensions within the wave 3 (dark blue) such as a wave 4 and 5 (light blue). A typical turning spot for a wave 4 is the 38.2% Fibonacci (magenta line is the invalidation).
60 min USDJPY:
Original analysis is provided by Admiral Markets
EURUSD
Although price is facing a major level (daily bottom (green), there is no divergence between the bottoms which means that a continuation of the downtrend is likely (could be after orange wave 4 though).
4 hour EURUSD:
![4-%209-%202014%20eu%204.jpg](/community/proxy.php?image=http%3A%2F%2Fwww.fxservice.com%2Fsites%2Ffxservice.com%2Ffiles%2Fanalytics%2F4-%25209-%25202014%2520eu%25204.jpg&hash=3f6537e91f84d087175c0d6662cfdb5c)
A contracting triangle (light green lines) is indicating the current indecision.
60 min EURUSD:
![4-%209-%202014%20eu%201.jpg](/community/proxy.php?image=http%3A%2F%2Fwww.fxservice.com%2Fsites%2Ffxservice.com%2Ffiles%2Fanalytics%2F4-%25209-%25202014%2520eu%25201.jpg&hash=3d8b2bbd4434bdd2f7407547c8e56d72)
GBPUSD
A break below the weekly support (green) could see price fall to the 61.8% Fibonacci target.
4 hour GBPUSD:
![4-%209-%202014%20gu%204.jpg](/community/proxy.php?image=http%3A%2F%2Fwww.fxservice.com%2Fsites%2Ffxservice.com%2Ffiles%2Fanalytics%2F4-%25209-%25202014%2520gu%25204.jpg&hash=743c39cd825d440f9f03a2eaac8106bf)
Tuesday’s anticipated breakout (seen in wave analysis 2nd September) made 5 bearish waves which could be explained by a wave 3 (dark red). A wave 4 (dark red) could be the next step.
60 min GBPUSD:
![4-%209-%202014%20gu%201.jpg](/community/proxy.php?image=http%3A%2F%2Fwww.fxservice.com%2Fsites%2Ffxservice.com%2Ffiles%2Fanalytics%2F4-%25209-%25202014%2520gu%25201.jpg&hash=2a61ebb1829a2536c69e9f680a887f76)
USDJPY
Although price is showing signs of bullish momentum, it still needs to break above the monthly top (dark red) at 105.50 before bigger gains could be possible.
4 hour USDJPY:
![4-%209-%202014%20uj%204.jpg](/community/proxy.php?image=http%3A%2F%2Fwww.fxservice.com%2Fsites%2Ffxservice.com%2Ffiles%2Fanalytics%2F4-%25209-%25202014%2520uj%25204.jpg&hash=a7f517d8ddcf6ab32c116e110ef2a367)
Price could make extensions within the wave 3 (dark blue) such as a wave 4 and 5 (light blue). A typical turning spot for a wave 4 is the 38.2% Fibonacci (magenta line is the invalidation).
60 min USDJPY:
![4-%209-%202014%20uj%201.jpg](/community/proxy.php?image=http%3A%2F%2Fwww.fxservice.com%2Fsites%2Ffxservice.com%2Ffiles%2Fanalytics%2F4-%25209-%25202014%2520uj%25201.jpg&hash=293df148a9ca40826d3eab94319eb6e3)
Original analysis is provided by Admiral Markets