? EUR/USD Wave Patterns Show Multiple ABC Zigzags ?

The EUR/USD corrective pattern is expanding sideways after price bounced both at resistance and support. For the moment a bullish corrective wave pattern seems more likely but a break below the support zones would change that.

EUR/USD

4 hour

The EUR/USD seems to have expanded and completed a wave B (purple) correction. A bullish break above the resistance trend line (red) would confirm a potential bullish wave C (purple).

1 hour

The EUR/USD seems to have completed a bullish ABC (blue) within wave X and Y (blue) and could now be ready for an impulsive wave C if price breaks above the resistance trend line (red). A break below the support trend lines (green/blue) would invalidate this and a bearish break could be possible.

Good trading,
Chris Svorcik
Elite CurrenSea

Get Free 3 Month of ecs.LIVE

Trade with Alvexo via ECS to access signals & SWAT course.

Learn How to Apply