4 hour
EUR/USD reached the 161.8% Fibonacci target of wave 3 (pink) after breaking above the 1.1750 resistance. The current bearish price action could be a retracement within this impulsive wave 3 pattern (pink).
1 hour
The EUR/USD is probably building multiple wave 3s now. The Fibonacci levels of wave 4 (purple) could act as support and create a potential bouncing spot for a continuation of wave 3 (pink).
4 hour
1 hour
Origin: Admiral Markets
