4 hour
The EUR/USD broke above the resistance (dotted red) of the bearish trend channel after bouncing at support trend lines (blue), which could indicate the end of the wave 4 (purple) correction. A bullish continuation could indicate the start of wave 5 (purple) within wave 3 (pink).
1 hour
The EUR/USD broke above the resistance levels and fractals of wave 4 (orange) and the top of wave 1 (blue). The bullish breakout could be part of a wave 3 (blue). This wave count could get confirmed if price manages to reach the 161.8% Fibonacci target at the minimum before building a wave 4.
4 hour
1 hour
Origin: Admiral Markets
