The EUR/USD downtrend continues after another bearish break of a smaller consolidation zone.
EUR/USD
4 hour
The EUR/USD downtrend continues after another bearish break of a smaller consolidation zone. The next key support zone (green) is the previous bottom. Price seems to be building a potential 5th wave within wave A (purple) but price needs to break below support. The main target is 1.1450 due to the presence of a 50% Fibonacci retracement level on the weekly chart.
1 hour
The EUR/USD seems to building a potential break, pullback, and continuation within the bearish wave 5 (purple).
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