the EUR/USD made a bearish bounce at the resistance trend line (red), which could confirm the potential wave 4 (green) pattern but this does depend on the price action during the upcoming NFP and unemployment rates in the US on 3 May.
The EUR/USD is looking for a bearish continuation after breaking yesterday’s low or after bouncing at the resistance trend line (red). A bullish break, however, is possible if price is able to break above the resistance (red) line. The main targets of the downtrend are the Fibonacci levels of wave 3 vs 1.
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Good trading, Chris Svorcik