4 hour
The EUR/USD break below the 100% Fib level of wave 2 vs 1 invalidates the wave 2 (pink) and indicates an expansion of wave 4 (light purple). It needs to break the support or resistance trend line before the short-term direction becomes clear.
1 hour
The EUR/USD could still be in a wave X (blue) as long as price stays below the 138.2% Fibonacci level of wave X vs W. Price is probably completing a rising wedge chart pattern (red/blue lines) within wave X (blue).
4 hour
1 hour
Origin: Admiral Markets
