4 hour
The EUR/USD is trying to break below the previous bottom (green) but the bearish price action is mild and candles are small. The support zone and the 50% Fibonacci level of wave 4 (pink) is a key decision level for a bullish bounce or bearish breakout. A bearish break makes a wave 4 (purple) pattern less likely.
1 hour
The EUR/USD is probably building a wave 4 (orange) unless price breaks above the bottom of wave 1 (red line), which indicates a potential bullish breakout.
4 hour
1 hour
Origin: Admiral Markets
