? EUR/USD Prepares for Bearish Breakout in Wave C ?

2 min read

Hi traders,

The EUR/USD made a bullish bounce at the support trend line (blue) as part of the expected wave B (blue) but the wave C (blue) was shorter than expected and price turned at the resistance trend line (orange). ‘


4 hour

The EUR/USD seems to have completed its ABC (blue) correction within wave B (purple) and a bearish breakout below the support line (blue) would confirm the bearish breakout within wave C (purple). A bullish bounce and break of course could still indicate an expanded wave B (purple).

1 hour

The EUR/USD seems to have completed 5 bullish waves (green) before breaking below the minor support line (dotted blue). A new bearish breakout could indicate a continuation towards the Fibonacci targets of wave C (purple).

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Good trading,
Chris Svorcik
Elite CurrenSea

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