EUR/USD Building Gradually Reversal but Key Support Remains Intact

eur-usd4 hour

The EUR/USD seems to be slowing turning from an uptrend to a downtrend.

A break above the 100% Fib resistance level at 1.13 (red line) however would invalidate the reversal whereas a break below support (blue) would increase the chance of a wave 3 (blue) indeed unfolding.

1 hour

The EUR/USD invalidates wave 2 (orange) if price manages to break above the 100% Fib level.

Origin: Admiral Markets

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