The EUR/USD is showing strong bullish momentum after breaking the resistance zone (dotte orange). A bullish ABC (purple) pattern is taking place. Price could aim for 1.11280.
The EUR/USD has a confluence target zone at the 78.6% Fibonacci level, the -27.2% Fib target, and the Wizz 8 target.
The EUR/USD seems to be in a wave 3 of wave 3 (purple). The current pullback is likely to be a wave 4 (purple). But price will need to stay above support (green box) otherwise the bullish outlook is invalidated (red x).
