〽️ EUR/USD Bearish ABC Zigzag within Massive Triangle Pattern 〽️

2 min read

Hi traders,

The EUR/USD continues to move up and down within the triangle chart pattern, which is indicated by the trend lines. Price is now approaching again the support zone after having bounced at the resistance trend lines (red).


4 hour

The EUR/USD seems to have completed an ABC (blue) zigzag pattern within wave W (purple) and might be building a wave X (purple) now if price bounces at the Fibonacci levels. A break below the support zone could indicate a bearish wave 5.

1 hour

The EUR/USD seems to be building an ABC (blue) zigzag pattern after completing 5 waves (green) up within wave C (blue). Price bounced at the 38.2% Fibonacci level of wave B vs A and could now be moving lowing as part of the wave C (blue) towards the Fibonacci targets.

Good trading,
Chris Svorcik
Elite CurrenSea

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