4 hour
The EUR/USD is building a bull flag continuation chart pattern above the long-term trend line (blue), local support (blue), and long-term moving average, which favours a wave 4 (green) correction.
A bullish break above resistance (red) would confirm the end of wave 4 and start of wave 5.
1 hour
The EUR/USD seems to be building a wave 1-2 (purple) as long as price stays above the 100% Fib level of wave 2 vs 1. A break above resistance (red) line could see the start of wave 3.
Origin: Admiral Markets
