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EUR/USD starts bullish push but strong resistance remains crucial


omrdoo

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4 hour

eur4-636095135392062776.png
 

The EUR/USD is moving sideways in a larger consolidation zone between support (green) and resistance (orange). A break out below the support trend lines confirms the continuation of waves Y within wave d (green). The current Fibonacci levels should act as resistance.

1 hour

eur1-636095135662114054.png

The EUR/USD did not manage to break horizontal support yesterday (green box) and made a bullish bounce. The momentum is making it likely that a 5 wave ending diagonal is taking place (orange).

 

 

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