4 hour
The EUR/USD made a bearish bounce at the Fibonacci levels of wave B vs A. The divergence between the tops (purple line) could create a larger bearish retracement via an ABC correction (purple).
The main targets are the 23.6 and 38.2% Fibonacci levels of wave 4 vs 3. A break of the top and 100% Fibonacci level of wave B vs A at 1.1910 could indicate an uptrend continuation.
1 hour
The EUR/USD potential break above the resistance (red) of the triangle chart pattern could see price move towards the next 78.6% Fibonacci level of wave B vs A whereas a break below support (blue) could see price continue towards the 23.6% Fib of wave 4 (green).
Origin: Admiral Markets
