4 hour
The EUR/USD is pausing and moving sideways which could indicate that the 5th wave (orange) of wave 1 (green) has been completed.
A break above the resistance trendline (red) could spark a retracement within wave 2 (green).
1 hour
The EUR/USD did not build a 5 wave structure but rather an ABC (pink). This is probably part of a larger WXY (orange) correction, which is why the Fibonacci levels of wave X (orange) and the support trendline (blue) could provide bouncing spots.
Origin: Admiral Markets
