The EUR/USD broke above the key 1.1750 resistance and 23.6% Fibonacci retracement level and is now moving up towards the next 38.2% Fib.
The EUR/USD is probably building a bullish wave 4 pattern which is expected to turn back down at or below the 50% Fib. A break above the 50% indicates that another wave count is more likely.
The EUR/USD made a bullish breakout yesterday and is building a potential wave C (blue). The ABC zigzag could complete a larger WXY correction within wave 4.
