4 hour
The EUR/USD bullish momentum is now approaching the previous top and resistance trend line (red). A break above the resistance could indicate an uptrend continuation within wave 5 (purple). A bull flag pattern or other chart pattern could indicate a pause before the breakout.
1 hour
The EUR/USD strong pullback is probably a wave 2 (blue) but the bullish reversal is indicating that this is a potential wave 3 (blue). For price to confirm the wave 3 though, there will need to be a bullish break above the resistance trend line and a move towards the 161.8% Fib target.
4 hour
1 hour
Origin: Admiral Markets
