4 hour
EUR/USD is in between key support (green) and resistance (red) trend lines. A break below support indicates that an ABC (orange) pattern is more likely than a 123 (pink) pattern whereas a bullish breakout could be part of the wave 3 (pink).
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 makes a wave 4 less likely and could indicate a bearish continuation towards the targets of wave Y (blue).
4 hour
1 hour
Origin: Admiral Markets
