4 hour
The EUR/USD made a bearish retracement as expected in yesterday’s analysis named “EUR/USD Prepares for ABC Zigzag in Bearish Wave 2”. A bullish breakout above resistance (red) could start the wave 5 (pink) whereas a break below support makes a downtrend more likely.
1 hour
The EUR/USD is indeed building a bearish correction after completing 5 bullish waves (blue). The bearishness is probably an ABC zigzag (blue) within wave 2 (purple).
4 hour
1 hour
.png)
Origin: Admiral Markets
