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EUR/USD breaks consolidation zone, GBP/USD bounces at 78.6% Fib
Hour 4
The EUR/USD finally made a bearish break of the larger consolidation zone yesterday, which confirms the wave X (purple) and this bearish wave count of the last few weeks. The breakout has large momentum which could indicate a bearish continuation, although a bounce or retrenchment at the 50% and psychological round level of 1.10 could occur.
The EUR/USD finally made a bearish break of the larger consolidation zone yesterday, which confirms the wave X (purple) and this bearish wave count of the last few weeks. The breakout has large momentum which could indicate a bearish continuation, although a bounce or retrenchment at the 50% and psychological round level of 1.10 could occur.
Hour 1
The EUR/USD is expanding the 5th wave (orange) and price is now falling towards the Fibonacci targets of wave 5 (grey). A bullish bounce or retrenchment at 1.10 could indicate that a wave A (green) has been completed and a wave B (green) will start.
The EUR/USD is expanding the 5th wave (orange) and price is now falling towards the Fibonacci targets of wave 5 (grey). A bullish bounce or retrenchment at 1.10 could indicate that a wave A (green) has been completed and a wave B (green) will start.
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