🎯 EUR/USD Completes ABC within Bearish Wave 4 🎯

2 min read

Hi traders,

The EUR/USD remains in a bearish mode but a potential reversal zone is nearby.

EUR/USD

4 hour


The EUR/USD could make a bullish reversal at the Fibonacci retracement levels of wave X (pink), which could either complete wave X or a wave A (purple) of X. For the moment a new low seems likely unless price manages to break above the resistance trend lines.

EUR/USD

1 hour


The EUR/USD completed an ABC correction (green) within wave 4 (blue) and has now broken below the support trend line (dotted blue). This could be part of a wave 5 (blue) of a potential wave A (purple), although this wave count depends on whether price bounces at, above or near to the support trend line (green).

Good trading,
Chris Svorcik
Elite CurrenSea

Leave a Reply

avatar

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

  Subscribe  
Notify of