EUR/USD Forecast. Wave Analysis

forex_news_eur_usd_14 hour

The EUR/USD bullish channel (blue lines) is now challenging a potential resistance trend line (orange). 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 within the bullish channel.

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The EUR/USD bullish momentum has reached the 161.8% Fibonacci target and could be in a wave 3 (blue). A shallow retracement could indicate a potential wave 4 and a continuation within the bullish channel.

4 hour

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Origin: Admiral Markets

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