EUR/USD Bearish Momentum Challenges 1.21 Support Zone
April 26, 2018
2 min read
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Hi traders,
the EUR/USD bearish momentum is still intact and is now testing a key support zone (green lines) and the 50% Fib of wave 4.
EUR/USD
4 hour
For the moment, the bearish pressure is most likely part of a wave C (blue) unless price manages to break below the 50% Fibonacci level would make a downtrend more likely.
1 hour
The EUR/USD could either extend the wave 3 (green) for one more lower low or make a retracement probably within wave 4 (green).
Good trading,
Chris Svorcik
Elite CurrenSea
.
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