4 hour
The EUR/USD continued to move lower as it approaches the support trend line (blue) yet again.
The bearish bounce is indicating that the recent bullish momentum is probably a wave B (red), which is part of a larger ABC (red) correction.
1 hour
The EUR/USD did not confirm the bullish break yesterday and in fact invalidated the bullish wave 4. A bearish 5 wave pattern seems to be unfolding within wave C (red).
Origin: Admiral Markets
