4 hour
The EUR/USD broke above the resistance trend line (dotted red) which is a continuation of the wave 2 (brown) retracement.
A break above the 100% level at 1.13 invalidates both waves 2 (brown/green) but bearish breakout below the bottom at 1.11 makes a potential wave 3 more likely.
1 hour
The EUR/USD stopped at the 50% Fibonacci level of wave 2 (brown) but could retrace deeper and higher if indeed an ABC (purple) zigzag occurs.
Origin: Admiral Markets
