4 hour
The EUR/USD bullish breakout is indeed sending price towards the next targets at 1.24 and 1.25. The bullish looks strong and could make one more push towards the next Fibonacci target. At the moment the current bullish push is probably part of a wave 3 (purple).
1 hour
The EUR/USD is moving higher in a bullish channel marked by support (blue) and resistance (red) trend lines. Price is now probably in a wave 5 (brown) of wave 3 (orange). Once this wave is completed, price could make a retracement as part of a wave 4 (orange) and use the Fibonacci levels of wave 4 vs 3 as support.
4 hour
1 hour
Origin: Admiral Markets
