The EUR/USD closed with a strong 4 hour bullish momentum bar/candle but a confluence of resistance is nearby such as the red and brown horizontal levels, the 138.2% Fib, and the 1.15 round number.
The EUR/USD broke the resistance trend line (orange dot
...The EUR/USD is approaching a bullish break or bearish bounce spot at the resistance trend line (purple).
The EUR/USD upside momentum proved to have bigger candles than the downside momentum after it which is why the count has been labeled wave A (orang
...The EUR/USD is retracing lower as part of a wave B (green) but any of the Fibonacci retracement levels could be bouncing boards for a renewed upside to complete wave C (green).
The EUR/USD broke above a short-term resistance line (dotted orange) but mi
...The EUR/USD bullish impulse translated into multiple wave 3's, which is likely part of a bigger ABC zigzag as part of wave W (magenta).
EUR/USD completed an ABC zigzag correction (purple) but is correcting deeper with a double correction (WXY oran
...The EUR/USD had a lot of momentum which is most likely a wave 3 (orange) and the most recent divergence (purple line) indicates a completion of wave 5 (orange) of a bigger wave A (green). The wave B (green) Fibonacci retracement levels are potential bouncin
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