4 hour
The EUR/USD bounce at the 50% Fibonacci level of wave 2 vs 1 could indicate the end of wave 2 (pink) but the retracement is rather short (see horizontal Fibonacci time levels 2 vs 1). An expansion of the wave 2 via a WXY (purple) is therefore possible and could indicate a potential bearish bounce at resistance (red).
1 hour
The EUR/USD could build a bullish ABC (blue) zigzag within wave X (purple). Price seems to be bouncing at the 61.8% Fib of wave B (blue) and could move towards the 61.8% Fib of wave X (purple).
4 hour
1 hour
Origin: Admiral Markets
