4 hour
The EUR/USD has made a bearish bounce away from the resistance trend line (orange) which therefore makes a bullish ABC (purple) zigzag within a wave X (pink) correction more likely in an ongoing and extended wave 4 (light purple).
1 hour
The EUR/USD is building an ABC (blue) correction within the larger wave B (purple). The Fibonacci levels could act as support levels for a bullish bounce but a break below the 100% Fib would invalidate that.
4 hour
1 hour
Origin: Admiral Markets
