? EUR/USD Testing 88.6% Fib of Bullish ABC Pattern ?

2 min read

Hi traders,

The EUR/USD is testing the previous bottom and key Fibonacci support levels for a key break or bounce decision.


4 hour

The EUR/USD is expected to make a bullish bounce and reversal above the 100% Fibonacci level and previous bottom if price is indeed building a bullish ABC (blue) zigzag pattern. The break above the resistance trend line (red) could indicate a bullish breakout.

1 hour

The EUR/USD seems to have completed 5 bearish waves at the 88.6% Fibonacci retracement level of wave B vs A (blue) but a break above the resistance is needed to confirm that. A break below the bottom invalidates this bullish ABC (blue) wave pattern.

Good trading,
Chris Svorcik
Elite CurrenSea

Leave a Reply


This site uses Akismet to reduce spam. Learn how your comment data is processed.

Notify of