Hi everyone, hope you are all ok.

Let's get into it...

USDJPY is showing to be bouncing off the small trend line (red-dotted) in the 4Hour Chart.

Looking at the 60Min Chart that bounce should be the initial Waves i and ii of the first Wave (i) up.

The alternate count is showing the posibility of an extended move down for Wave (v) (see alternate counts circled in the Chart/s).

EURUSD is still raising (by looking at the 4Hour Chart), while developing corrective Wave [ii].

Looking at the 60Min Chart, it shows Wave i of Wave (c) to have been completed and Wave ii possibly completed.

Next, I am expecting Wave ii to complete within the %50 retracement and the price to continue its way up through Wave iii.

4Hours

Daily

GBPUSD is showing the initial Wave (i) of Wave [iii] might have started; Leaving Wave [ii] completed at between %38 and %50 retracement of Wave [i].

Although there is an alternate count for a possible further raise in a continuing Wave [ii] correction towards the %61 retracement.

As it stands now, a closer look into the 60Min Chart is showing that Wave ii might also have finished; And further action next session would decide whether this impulse down is the beginning of Wave (iii) down or a continuation of Wave (ii), which in the last case would suggest further raise towards the 1.2450 area at around the %62 retracement area.

All the best for everyone and please do contact me with any question or comments and, if it is the case, will come back with a reply.

Andres

info@tradingwaves.org