4 hour
The EUR/USD is trying to show a bullish breakout above the resistance trend line (dotted red), which would confirm a potential continuation of bullish wave 5 (purple). Price is probably in a wave 4 (purple) as long as price stays above support (green).
1 hour
The EUR/USD break above the tops (orange) could confirm the potential for a bullish breakout towards the Fib targets of wave 3 (blue). A strong bearish turn at 1.2475-1.25 could indicate that price has built an ABC rather than a 123.
4 hour
1 hour
Origin: Admiral Markets
