The EUR/USD made a bullish bounce at the support trend line (green). Price is in bullish territory as long as price stays above that support level. Main target is the resistance line (red).
The EUR/USD wave 4 as shown yesterday was invalidated when
...The EUR/USD completed the wave X (blue) and broke above resistance levels (dotted red) yesterday. It is now at the 61.8% Fibonacci target, which is a break or bounce spot. A bullish continuation could price head towards the next Fibonacci target and daily
...The EUR/USD has made a bullish bounce at the 38.2% Fibonacci level and is now resting the top (red). A break above resistance confirms the development of a wave A (green), whereas a bearish bounce could price retest the wave X (blue) Fibonacci levels. This
...The EURUSD broke long-term resistance and is set for a larger bullish correction, the GBPUSD at Fibonacci resistance, the AUDUSD is in a bullish channel but facing Fib levels and the USDJPY is showing a descending wedge.
The EUR/USD has completed a bullish ABC (green) zigzag but the entire correction could be prolonged via a WXY (blue). This wave count is invalidated when price breaks below the support trend line (green).
The EUR/USD is making a potential bearish AB
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