The EUR/USD moved up yesterday but price action was unable to break above the key resistance trend line (red). A bullish break is needed before wave C (purple) can be confirmed.
The EUR/USD is moving sideways in a tight consolidation zone. A bullish break could see price move up to the previous top which is indicated by the red box whereas a break below the support trend lines could indicate that a wave 4-5 patternis still active.
The EUR/USD triangle pattern is key for the next breakout. Price will need to either break below the support trend lines or resistance trend line for a new direction.
