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EUR/USD
4 hour
The EUR/USD broke below the support trend line (dotted blue) and is now testing the previous bottom (green). The support zone is a key decision level for a bullish bounce or bearish breakout and will decide whether USD strength or weakness will prevail.
The EUR/USD has failed to break below the support trend line (blue), which could indicate a potential bullish reversal to test the previous tops (red line). A break below the previous bottom (green) would make a wave 4 (purple) pattern less likely.
EUR/USD
4 hour
The EUR/USD is trying to show a bullish breakout above the resistance trend line (dotted red), which would confirm a potential continuation of bullish wave 5 (purple). Price is probably in a wave 4 (purple) as long as price stays above support (green).
1
...Hello Traders!
Welcome to this week's wave analysis on the EUR/USD, GBP/USD and USD/JPY daily, weekly and monthly charts.
The EUR/USD uptrend is still in a bearish retracement as part of wave 4 (purple). A break below the support trend lines (green/blue
...The USD/JPY bounced at the resistance zone and is now building a lower high. Price will need to break below support (green) before a bearish breakout is likely.
The USD/JPY is testing a resistance trend line (red). A bearish bounce c
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