4 hour
The EUR/USD bounced at the larger support zone around 1.22 which is indicated by the green lines. Price is now challenging the resistance trend lines. A bullish break could start a new uptrend whereas a bearish break below support makes a wave 4 (pink) less likely.
1 hour
The EUR/USD could be building 5 bullish waves (blue) if price manages to break above the resistance line (red).
4 hour
1 hour
Origin: Admiral Markets
