? EUR/USD Bearish ABC Patterns Aims at 1.15 Support ?

2 min read

Hi traders,

The EUR/USD failed to break above the resistance trend line (red) and is expanding the bearish correction within the wave B (blue) of a larger potential ABC zigzag (blue).

EUR/USD

4 hour


The EUR/USD is probably building a wave B (blue) unless price breaks below the 100% Fibonacci level. A bullish bounce at the Fibonacci levels of wave B vs A could see price move up towards the Fibonacci targets of wave B (purple).

1 hour


The EUR/USD failed to break above the resistance (red) and instead broke below the support trend lines (dotted lines). The bearish breakout is indicating a potential move down towards the Fibonacci levels of wave B vs A (blue), which in turn could be a bullish bouncing spot.

Good trading,
Chris Svorcik
Elite CurrenSea

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