EUR/USD Forecast. Wave Analysis

forex-news-euro1 hour

The EUR/USD indeed completed a wave 4 (blue) and broke below the trend line support (dotted blue). The bearish momentum is most likely a wave 3 (purple) and the triangle (red/blue) could be part of the wave 4 (purple).

The potential 5th wave (purple) would most likely complete wave 1 (brown).

4 hour

The EUR/USD is still trapped in between strong support (blue) and resistance (red) and would need to break these levels before a potential trend could start.

Origin: Admiral Markets

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