The EUR/USD price action is in a range and is expected to make deeper retracement for wave X (brown) unless price breaks above resistance (red).
This week’s price action has seen bearish momentum but there is a chance that price could bounce at the support levels. A break below the 78.6% Fibonacci level and the green line (top of wave 1) would invalidate the current wave 4 (magenta).
Please note that the update is posted with permission from Admiral Markets
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