4 hour
The EUR/USD is testing the long-term support trend line (dark blue).
Price will need to break below that support trend line before a potential new downtrend within wave 3 (brown) is possible.
1 hour
The EUR/USD invalidates wave 2 (brown) if price manages to break above the 100% Fibonacci level. A break below support (green) could potentially start bearish waves 3.
Origin: Admiral Markets
