4 hour
The EUR/USD bearish correction continued lower and pushed below the 61.8% Fibonacci support level of wave 2 vs 1 (purple). Price might now retest deeper Fibonacci levels but a break below the bottom of wave 1 at 1.2155 invalidates wave 2. The FOMC statement and interest rate decision is expected to impact the US Dollar.
1 hour
The EUR/USD bearish momentum is probably a wave 3 (orange) and the current pullback could therefore be a wave 4 (orange).
4 hour
1 hour
Origin: Admiral Markets
