4 hour
The EUR/USD broke above the resistance trend line (dotted red) and has hit the first target at 1.0950. The second target is the psychological round level of 1.10.
A break above that could see the EUR/USD extend towards the 78.6% Fibonacci level of wave 2 (green).
1 hour
The EUR/USD bullish breakout confirmed that the expected wave 4 and 5 (pink) were correct. Price is now stopping at 1.0950 but a new breakout above the trend lines (dark red) could see price challenge 1.10, which is a new resistance level and a bounce or break spot. Bears could probably better wait for price to break below the support trend line (blue).
Origin: Admiral Markets
