HomeContributorsTechnical AnalysisEUR/USD Bearish ABC Aims At 1.16 Support Zone

EUR/USD Bearish ABC Aims At 1.16 Support Zone

The EUR/USD broke below the support trend line (dotted blue) but overall price action remains choppy and indecisive. Furthermore, strong support and resistance levels could place a limit on any breakouts.

The EUR/USD could breakout to both directions but the wave count favours a larger bullish correction at the moment within wave B (purple).

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