4 hour
The EUR/USD broke the support zone (dotted green) as expected in yesterday’s analysis. The bearish momentum is indicated by the resistance trend line (yellow).
Price could continue lower towards the Fibonacci targets but overall the bearish price action seems to be corrective. This could be explained by the potential wave 4 (blue).
1 hour
The EUR/USD broke the support (dotted blue) of the bear flag chart pattern and continued lower towards the 1.1750 quarter level. The EUR/USD could extend the bearish momentum if price breaks below the support trend line (blue).
Origin: Admiral Markets
