? What’s Next After EUR/USD Bounce at 1.15? ?

2 min read

Hi traders,

The EUR/USD failed to break below the round level of 1.15 after price broke below the chart pattern. The bullish reversal could indicate a larger correction or perhaps the end of wave A.

EUR/USD

4 hour


The EUR/USD failed to break the larger support trend line (blue), which could indicate an expanded wave 4 (pink), a smaller correction on a 1 hr chart or the completion of a truncated wave 5 (pink – failure to break the bottom).

1 hour


The EUR/USD bullish momentum could be a wave 1 (or A) and the correction could be part of a wave 2 (or B) as long as price stays above the 100% Fibonacci level at 1.1508 which is the invalidation spot for a larger bullish move.

Good trading,
Chris Svorcik
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of

🍿️ Discover your path to a 100% yearly returns over the convos with Chris Svorcik!

X