4 hour
The EUR/USD is facing an interest rate decision later today by the European Central Bank (ECB), which could cause strong price movement and volatility. From a wave perspective, price could be finishing a wave 1 (blue) and ready for a retracement back to the Fibonacci levels of wave 2 (blue). These Fib levels could act as support if indeed a larger wave C (purple) of wave X (pink) indeed takes place.
1 hour
Invalidation for the wave 1-2 (blue) is a break below the 100% Fibonacci level. A break above the resistance trend line could indicate a larger wave 3 (green).
4 hour
1 hour
Origin: Admiral Markets
