4 hour
The EUR/USD could be in a wave B (purple) bearish retracement but the bullish price action looks strong. A push higher could occur based on yesterday’s bullish bounce but a break above the 100% Fibonacci level invalidates the wave B zigzag pattern.
1 hour
The EUR/USD break below support (blue) could see price fall towards the Fibonacci levels of wave 2 (pink). A break above the 100% Fib could indicate an extension of wave 1 (pink), although new resistance levels are nearby (red lines).
4 hour
1 hour
Origin: Admiral Markets
