4 hour
In yesterday’s trading the EUR/USD broke above the 50% Fibonacci retracement level of wave 2 (brown) and continued with a bullish push towards the 61.8% Fib at 1.0775.
Price stopped at this Fib level and made a bearish retracement, which is now testing the support trend line (blue) – see 1 hour chart.
1 hour
The EUR/USD completed a wave 5 (pink) as expected in yesterday’s wave analysis. Price is now at the trend line (blue) which is a bounce or break spot. A bearish break could indicate a first signal that a bearish reversal is occurring.
Origin: Admiral Markets
