The EUR/USD broke below the major support levels from the weekly chart (dotted green) for the first time in nearly 2 years. A wave 3 (brown) now seems likely although price should still push below the 100% level to confirm a wave 3.
T
...Yesterday the central bank of the U.S. (Fed) decided to increase its interest rate by a quarter percent from 0.5% to 0.75%. The rate hike had a positive impact on the US Dollar (USD), which saw gains across the board against the EUR, GBP and JPY. T
...The EUR/USD is probably building bullish retracement within the larger downtrend. Wave 2 (brown) however becomes invalidated if price were to break above the 100% Fibonacci level of wave 2 vs 1. A bearish break below support (green) should see price
...The EUR/USD bearish price action bounced at the major support levels (green lines) from the long-term time frame charts. A bullish retracement is probably occurring within a larger downtrend, which has been labelled as a wave 2 (brown). A bearish b
...The EUR/USD bearish trend is yet again challenging the major support levels (green lines) from the long-term time frame charts. A bearish break should see price continue lower within a wave 3 (green).
A bullish bounce however could
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