The EUR/USD downtrend is building a major consolidation zone the broken support levels from 2015 (dotted greens). Price will need to break below support (green/blue) before a bearish continuation becomes more likely.
The EUR/USD is building a bear flag chart pattern (red/blue) as part of the expanded wave 4 (purple). A break above the Fib levels of wave 4 vs 3 would invalidate the current wave structure. A bearish breakout below the support (blue) could see price continue with the downtrend.
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Origin: Admiral Markets
