EUR/USD Forecast. Wave Analysis

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The EUR/USD is either building a reversal or a sideways zone.

A break above the 100% Fib resistance level at 1.13 (red line) invalidates the potential reversal whereas a break below support (blue) would increase the chance of a wave 3 (blue) 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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