? EUR/USD Completes ABC within Bearish Wave 4 ?
Hi traders,
The EUR/USD remains in a bearish mode but a potential reversal zone is nearby.
EUR/USD
4 hour
The EUR/USD could make a bullish reversal at the Fibonacci retracement levels of wave X (pink), which could either complete wave X or a wave A (purple) of X. For the moment a new low seems likely unless price manages to break above the resistance trend lines.
EUR/USD
1 hour
The EUR/USD completed an ABC correction (green) within wave 4 (blue) and has now broken below the support trend line (dotted blue). This could be part of a wave 5 (blue) of a potential wave A (purple), although this wave count depends on whether price bounces at, above or near to the support trend line (green).
Good trading,
Chris Svorcik
Elite CurrenSea
