The EUR/USD respected the support trend line (purple) and price showed a bullish bounce. For the moment price is still in a wave Y (brown) unless the EUR/USD breaks below it.
The EUR/USD made a deep retracement to the 61.8%, which is uncommon for 4th
...The EUR/USD is in an uptrend channel (purple lines) and is climbing towards the targets of wave Y (brown). If price breaks below the channel, then there could be a larger correction of wave X (brown) which could take price down to the next support Fibonacc
...The EUR/USD bounced substantially at the 50% Fibonacci level and could retest the resistance level (red). A bigger bearish correction could still see support at the Fibonacci level.
The EUR/USD is in a bullish channel (green) and needs a new break a
...Weekly recap video that discusses EURUSD's bounce at the 50% Fibonacci level, the GBPUSD's approach to the bottom of the downtrend channel, and USDJPY and AUDUSD consolidation.
The EUR/USD seems to be in a larger correction (WXY). A move lower seems unlikely to break the Fibonacci levels of wave X (green).
The EUR/USD bullish bounce has so far been slow. If price breaks below support (green), it could fall towards the next
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