4 hour
The EUR/USD respected the 78.6% Fibonacci resistance level of wave X vs W.
Price could be building an extended WXY (red) correction within wave 4 (blue) unless price shows strong bullish candles once breaking above the resistance trend lines.
1 hour
The EUR/USD seems to be building a rising wedge chart pattern at 1.20 when comparing the angle of the support (blue) trend line with the angle of the resistance (red). A break below support could see the start of wave Y (red) whereas a bullish break could see price test higher Fibonacci levels of wave X vs W.
Origin: Admiral Markets
