EUR/USD H4

General overview for 18/06/2015 08:00 CET

It looks like the upside wave progression to complete the wave (c) of the bigger wave B purple hasn't been completed yet as the first target is at the level of 1.1547 (61%FiboExt + Measured Move), second target is at the level of 1.1765 (100%Fibo). Nevertheless, the overall picture is bearish and the downside wave progression will start sooner or later, we just need to wait for wave 4 pink to be completed.

Support/Resistance:
1.1547 - First Target Projection
1.1475 - 1.1531 - Supply Zone
1.1365 - WR1
1.1224 - Weekly Pivot
1.1205 - Wave (b) Support

Trading recommendations:
The sell orders should be still kept open as the overall technical picture is bearish and fundamental news are currently not in favor of strong Euro ( Grexit + possible FED rate hike this year).

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USD/JPY Weekly

General overview for 09/06/2015:

The larger time frame charts are close to reveal some of the possibilities soon as the market approaches important levels. There are two possible scenarios here: bullish and very bearish. The most important is to look at the levels to see which count will be invalidated soon, specially on daily time frame. Moreover, the building bearish divergence is suggesting a possible sell-off soon, but the degree of the cycle is yet unknown: it might be either the end of the whole cycle or just an internal sub - wave progression corrective leg down. Please notice , that first top confirmation comes with the level of 115.00 break out and of course channel break out as well. Without this kind of price action we can not be 100% sure that the long term top is in place.

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EUR/USD H1

General overview for 28/05/2015:
The impulsive wave progression to the downside hasn't been completed yet as there are some wave still missing. The current corrective structure in wave 2 black looks uncompleted as well, because only wave a purple to the upside had been made so far. The market might make another wave down, labeled as wave b purple and the rally up to complete the irregular flat corrective cycle. The max. retracement for the corrective wave is at the level of 1.1061 - 1.10 77, that confluences with the 61% Fibo zone as well. On the other hand, in case of a sudden move to the downside below the level of 1.0818 the alternate count is in play.

Support/Resistance:
1.1091 - Weekly Pivot
1.1061 - 1.1077 - Resistance Zone|Confluence Level| Key Level|
1.0818 - Local Low
1.0735 - WS1

Trading recommendations:
Swingtraders should keep the sell trades open and add to sell positions if the market hit the grey rectangle resistance level.

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USD/JPY H4

General overview for 27/05/2015:
The impulsive wave development to the upside does not completed yet as there is still a corrective wave iv and one more wave v missing to complete the overall structure. The orange rectangle represents a projected target zone for wave iii. The most important support for the bulls is at the level of 123.31, because any break out lower will open the possibility of a larger corrective cycle down to the level of 122.02. Nevertheless, the bias is bullish and this pair should see more gains. Only a sustained break put below the level of 120.50 would invalidate this view.

Support/Resistance:
124.92 - WR3
124.12 - 123.92 Projected Target Zone
123.31 - Intraday Support
123.25 - WR2
122.68 - WR1
122.02 - Technical Support

Trading recommendations:
All bulls should consider closing a part (or full) of their position into the orange rectangle area as the immediate corrective cycle is coming. Buying the dips in wave iv is the way to trade this market in anticipation of wave v to the upside.

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