The EUR/USD showed a bullish bounce at the 61.8%, which could complete wave X (brown) depending on whether price can break above resistance (orange).
The EUR/USD completed wave 5 (pink) at double bottom before making an impulsive bullish rally. The
...The EUR/USD broke below the 50% Fibonacci retracement level and fell towards the 61.8% Fib of wave X (brown). A potential break below the 61.8% Fib could price see price fall towards the 78.6% whereas a potential rally could indicate the completion of wave
...The EUR/USD is expanding the wave X (brown) correction via WXY's (blue/purple).
Yesterday the EUR/USD saw a bullish rally (wave X green) that was unable to break above resistance (orange). For the moment a bearish zigzag (orange) seems possible. The
...A new trading year seems to start with USD weakness against the Yen and Euro but US strength versus GBP and AUD. Check out the weekly recap for the technical analysis forecast.
The EUR/USD is most likely in a wave B of a larger ABC (purple) zigzag. The wave count is invalidated if price breaks below the horizontal support (lighter green).
The EUR/USD made a bearish break below the support trend line (dotted green) as part
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