4 hour
The EUR/USD is in a bullish channel (blue lines) which could challenge the resistance trend lines. It is unclear whether price is in a wave 5 or in an expanded wave 4 at the moment, which depends on how price develops the bullish trend.
1 hour
The EUR/USD seems to be in a smaller wave 4 (purple) within the bullish channel. A break below the channel and 61.8% Fibonacci invalidates the wave 3 (pink).
4 hour
1 hour
Origin: Admiral Markets
