4 hour
The EUR/USD is testing the support trend line (blue) of the triangle pattern, which is a bounce or break spot. There is also a critical 78.6% Fibonacci level of wave B vs A. A bullish bounce is more likely when taking into account the potential ABC (blue) zigzag pattern. A break below the 100% Fibonacci level invalidates the bullish ABC pattern.
1 hour
The EUR/USD seems to have completed 5 bearish waves (orange) as part of bearish wave C (green) of wave B (blue). Price could now be building a wave 1-2 (green) as long as price stays above the 100% Fibonacci level of wave 2 vs 1, otherwise this wave pattern is invalidated.
4 hour
1 hour
Origin: Admiral Markets
