The EURUSD currency pair made a bullish bounce at the support trend line (green) and the round level of 1.15. The bullish reversal could indicate the end of a potential wave A (purple) and the start of a wave B (purple), which could lead to a larger ABC pattern within wave X (pink). The continuation of the wave B seems more likely if candlestick patterns are able to break above the resistance trend lines.
The EUR/USD currency pair’s bullish bounce could indicate a wave A (blue) of a larger ABC (blue) pattern in wave B (purple). A bearish retracement could lead to a bounce at the Fibonacci levels of wave B vs A, but a bullish breakout is needed to confirm this potential pattern. A break below the 100% Fib invalidates the ABC wave pattern.
