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.
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