The EURUSD seems to have found a short term bottom and perhaps completing the B of B wave of the larger correction that started with the highs of 1.37110 on the end of January. The EURUSD should be gradually going up to test the 61.8% of the A wave that is formed in early April. Please refer to the charts.
The EURJPY has possibly seen a top forming and this could be a start of a corrective 4 that could possibly bring prices down significantly in the coming months. You should look for retracement of at least 23% - 38.2% of Wave 3. Break of the up channel could significantly increase the selling pressure. You could see major Divergences that further support this count. You could also see this visibly in the divergences forming in the USDJPY. A break of the upward wedge would significantly start a downward pressure in USDJPY and perhaps suggest that the rally in the USDJPY is in for a more substantial correction to come. Please refer to the charts.
In the long term, the GBPUSD is on its rally to go back up and test the bottom trendline of the large Triangle formed in 2010-2012. Looking at the 1 day chart, one could argue that in the short term, the GBPUSD has formed an A and will now test the bottom of the channel that is formed in the last two months. Breaking this channel will start a corrective move to form the B of the larger II of V. Please refer to the charts.
The USDCHF is testing recent highs set around August of 2012 and it is nearly close to a double top forming a B of B wave of the corrective move. There is a larger multi-year Wedge that is clearly visible in the Weekly chart. The break down of the lower trendline will increase the selling pressure, but the break of the highs would cause the pair to move above parity and test the upper trendline. Please refer to the charts.
As always be careful and wait for confirmations on the moves and good fortunes...