✅ EUR/USD Testing Wave-4 Fibs of Bullish Reversal ✅

3 min read

Hi traders,

the EUR/USD is testing the decision zone around the 144 ema close. A bullish break above the resistance trend line could confirm the potential impulsive waves 3 (pink/purple).

EUR/USD

4 hour

The EUR/USD is in an uptrend after price confirmed a higher high but the bullish price action could prove to be a bullish pullback if price manages to break below the support trend lines (blue) and previous bottom (100% Fibonacci level).

1 hour 

The EUR/USD is testing the Fibonacci retracement levels of wave 4 vs 3. Price is most likely in a wave 4 (blue) as long as price stays above the 61.8% Fib. A bullish breakout above the resistance trend line (orange/red) could indicate a continuation within wave 5 (blue) towards the Fibonacci targets of wave 3 vs 1 (pink).

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Good trading, Chris Svorcik

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