4 hour
The EUR/USD is showing bearish continuation as expected in the wave analysis earlier this week. Price is building a potential ABC (purple) correction within a larger wave 4 (green).
The main target of the ABC are the Fibonacci levels of wave 4 vs 3 (green).
1 hour
The EUR/USD broke below the support trend line (dotted blue) but was unable to break below the bottom (green line). Price is now building a pullback, which could be a wave 4 (brown). A break above the 61.8% and resistance trend line (red) makes a wave 4 less likely. A break below support (greens) could see price continue towards 23.6% Fib.
Origin: Admiral Markets
