4 hour
The EUR/USD is trying to break below the 23.6% Fibonacci level. could create a larger ABC (green). A bearish breakout could see price fall towards 1.15 at the 38.2% Fibonacci level of wave 4 vs 3, which in turn could act as potential support.
1 hour
The EUR/USD bullish corrective pattern did not take place as price failed to break above the resistance trend lines (red/orange). Instead, price broke below the previous bottom which could indicate that price is in a wave 3 (grey) of wave C (purple). A break above the resistance trend lines would invalidate the bearish outlook.
4 hour
1 hour
Origin: Admiral Markets
