The EUR/USD bounced at the support zone (green line) and 50% Fibonacci level near 1.15 which could indicate the end of the bearish WXY pattern and the start of a new bullish wave C.
The EUR/USD needs to break above the resistance trend line (red) to confirm the start of the wave C. The main targets are the Fibonacci levels of wave C vs A.
The EUR/USD seems to be building a wave 1-2 (blue) pattern as long as price stays above the 100% Fibonacci level. A bullish breakout above the resistance trend line (red) could start an impulsive wave 3 (blue) pattern.
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