EUR/USD Breaks Falling Wedge and Starts Wave B Correction

eur usd4 hour

The EUR/USD bearish retracement indeed turned at the support zone (blue lines) as expected in yesterday’s wave analysis.

Considering the divergence on this 4 hour chart, the bearish price action could be just one part of larger ABC (purple) retracement within wave 4 (green).

1 hour

The EUR/USD broke above the resistance (dotted orange) of yesterday’s falling wedge chart pattern and could moving towards the Fibonacci levels of wave B vs A which could act as potential resistance spots.

Origin: Admiral Markets

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