The EUR/USD is approaching potential support levels like the Fibonacci retracements and trend line. This zone could turn out to be a zone where price will show a bullish bounce (if it breaks above resistance) or a bearish break (if it breaks below support).
The EUR/USD respected the Fibonacci levels of wave 4 (orange) and has turned bearish as part of wave 5. A break above the resistance trend line (orange) could indicate the completion of wave X (purple).
EUR/USD 4 hour
EUR/USD 1 hour
Origin: Admiral Markets
