4 hour
The EUR/USD remains in a bullish trend as long as price stays above the support trend lines which are indicated by green and blue.
A break below the support could indicate the completion of wave 3 (green) and the start of wave 4 whereas a break above resistance (red) could see price challenge the Fibonacci targets of wave 5 (orange).
1 hour
The EUR/USD could be building a larger 5 wave (grey) extension within wave 5 (orange). At the moment, price is building a potential correction via an ABC (purple) within wave 2 (grey).
Origin: Admiral Markets
