EUR/USD Wave 2 Pullback at 1.1250 Resistance

eur-usd4 hour

The EUR/USD showed strong bearish momentum which is why it has been marked as a wave 1 (brown).

However, price will need to break below the support trend line (blue) to confirm the end of the long-term uptrend.

1 hour

The EUR/USD is building a potential ABC (blue) zigzag within wave 2 (brown). A break above the 100% Fib level and resistance (red) invalidates the bearish reversal.

Origin: Admiral Markets

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