The EUR/USD has respected the golden ratio, which is the 61.8% Fibonacci level. Price then broke above the steeply angled resistance trend line (dotted orange). Whether price has fully completed the wave X (purple) depends if it break above the resistance trend line (red). A failure to break increases the chance of price retesting the support trend line and the next support Fib at the 78.6% around 1.1160. A bullish breakout above this resistance zone could solidify the development of waves Y (purple/brown).
The EUR/USD stopped its bearish fall at the support trend line (green). A break above resistance (red) could price move towards the Fibonacci levels of "Y vs W'.
The GBP/USD developed a pullback to the broken support trend line (dotted green). For the moment price action remains marked as a corrective ABC (green) unless price manages to break below the 161.8% target, which makes a 123 wave pattern more likely than the current ABC (green).
The GBP/USD retraced back to the 50% Fibonacci level. This could be a wave 4 (blue) of a wave C (green) unless price shows weakness and fails to place a lower low. A break above the resistance trend line (orange/red) could indicate the completion of wave C (green).
The USD/JPY was not able to break below the bottom yesterday but a break below the 100% level still invalidates the wave 1-2 (purple) structure. A break above the resistance (red) and falling wedge is needed before a bullish reversal becomes more likely.
The USD/JPY has a weaker angle of the support trend line (green) than the resistance trend line (red), which makes it a falling wedge chart pattern.
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