The EUR/USD has replaced the bullish impulse with the start of a bearish momentum. Price however needs to break below both support trend lines (green) before a continuation is possible.
The EUR/USD seems to be building an ABC zigza
...The EUR/USD showed a bearish turn at the 61.8% Fibonacci retracement level after which is broke the steep support trend line (dotted green). This could indicate the completion of wave 2 (brown) at the 61.8% Fib but a push higher could see price cha
...The EUR/USD broke the resistance (red dotted) of the small consolidation zone and moved up towards the 61.8% Fibonacci retracement level, which has served as a resistance point till now. A push above this Fib could see price challenge the 78.6% Fib
...The EUR/USD is building a flat consolidation zone which is a passive correction. Prior to the correction, price was showing bullish momentum so a renewed bullish continuation seems likely at this point. The Fibonacci levels of wave 2 vs 1 are resis
...The EUR/USD was not able to break below the various support levels (green) and instead started a bullish bounce. The break of resistances (dotted lines) has started a strong rally but the wave outlook bearish as long as price stays below the 100% F
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