? EUR/USD Bullish ABC Pattern Aims at 1.1850 and 38.2% Fib ?

Hi traders,

The EUR/USD bounced at support and expanded the wave 4 pattern. Price is now testing the resistance zone (red) again and a bullish break could see EUR/USD move towards the 38.2% Fibonacci resistance level at 1.1850.

EUR/USD

4 hour

The EUR/USD is moving sideways at the moment but eventually price is expected to complete wave 4 at the Fibonacci resistance levels (50% Fib or lower) and break below the correction for one more bearish wave 5.

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1 hour

The EUR/USD is probably building a bullish ABC (blue) pattern within wave Y (purple). The EUR/USD could bounce at resistance (red) and support (blue) before making a breakout.

Good trading,
Chris Svorcik
Elite CurrenSea