4 hour
The EUR/USD failed to break above the previous top (red) and the bearish bounce is showing strong momentum. This could indicate that there is an expansion of the corrective pattern via a WXY (blue) within wave 4 (purple). A new break above 1.25 however would still make an uptrend continuation more likely.
1 hour
The EUR/USD seems to be building a bearish ABC (green) zigzag when considering the strong bearish price action in wave A (green). A break below the support trend lines (blue) could see price fall lower towards 1.2250-1.23.
4 hour
1 hour
Origin: Admiral Markets
