4 hour
EUR/USD is retesting the support trend lines (blue/green).
A break below the support could indicate a failure to continue the uptrend and makes an ABC (orange) more likely than a 123 (pink) pattern, which in turn could mean that the wave 4 (light purple) is still active.
1 hour
The EUR/USD potential breakout above resistance (red) could indicate a continuation of the uptrend within a wave 5 (purple) of wave 3 (pink). A push below the 61.8% Fib makes a wave 4 less likely and could indicate a bearish continuation towards the targets of wave Y (blue).
Origin: Admiral Markets
