USD Bounces at Resistance and Continues with its Corrective Shape

EURUSD

 

4 hour

Price indeed bounced at the 78.6% of the wave X (retracement) of the FOMC bullish momentum (indicated as wave W orange).

1 hour

A bullish zigzag (ABC magenta) could occur within Wave Y (orange).

GBPUSD

4 hour

 

Currently an ABC (blue) zigzag correction is probably the most likely wave explanation with wave C (blue) targets above.

1 hour

Price has bounced at the 88.6% Fibonacci support when placing a retracement on the bullish spike during FOMC.

USDJPY

4 hour

Price bounced at the wave X (magenta) resistance as part of a potential bigger wave 4 (dark red).

1 hour

A bigger WXY (magenta) correction could be expected after the bearish momentum during the FOMC statement.

Original Source – Admiral Markets