4 hour
The EUR/USD failed to break the resistance trend line (red) which could indicate a larger correction within wave B (blue). The Fibonacci levels of wave B vs A could act as potential support levels for a bullish bounce and reversal within wave C (blue) of wave W (purple) and wave Y (pink). A break below the 100% Fib invalidates the ABC (blue).
1 hour
The EUR/USD broke below the support trend line (dotted blue) and seems to be completing a wave C (orange) zigzag pattern within wave B (blue).
4 hour
1 hour
Origin: Admiral Markets
