4 hour
The EUR/USD is still in the bearish trend channel. Price action remains choppy and corrective, which is making a wave 1-2 (pink) pattern more likely. The next potential support zone could be at the 50% Fibonacci level but a break below the 100% Fib invalidates this wave pattern.
1 hour
The EUR/USD has finally reached the 50% Fibonacci level. The Fib levels of wave 2 vs 1 could act as support levels for a potential bullish bounce.
4 hour
1 hour
Origin: Admiral Markets
