the EUR/USD made a bullish bounce at the previous bottom (blue line), which is indicating a double bottom reversal chart pattern. A continuation of the sideways range pattern seems now more likely.
The EUR/USD seems to be expanding the wave 4 (green) corrective pattern after bouncing at the support line (blue). The bounce indicates the end of a bearish wave X (orange) and the potential start of bullish wave Y (orange). A bullish ABC is likely to take place before price can complete the larger wave 4 (green) pattern. Fibonacci
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Good trading, Chris Svorcik