The EUR/USD continued to move lower as it approaches the support trend line (blue) yet again. The bearish bounce is indicating that the recent bullish momentum is probably a wave B (red), which is part of a larger ABC (red) correction.
The EUR/USD challenged the previous top (red) but till now has been unable to break above that resistance. A bullish break could be part of a potential wave 3 (pink) whereas a failure to break above the 138.2% Fib of wave B vs A at 1.2165 could st
...The EUR/USD broke above the resistance trend line (dotted red) yesterday during the European Central Bank (ECB) statement. Price could now be in an uptrend as indicated by the 3 wave structure (pink) or still making a larger ABC (red) correction wit
...The EUR/USD is building a bear flag chart pattern (blue/red) before the interest rate decision later today in the Euro zone., which will be communicated by the European Central Bank.
A break below the support trend line (blue) could confirm a
...The GBP/USD did break above the resistance trend line (dotted orange) which kick started an impulsive wave C (purple). This C wave has reached the 50% Fibonacci level of wave 2 vs 1 but could extend further to the 61.8% Fib. This Fib plus the resist
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