Wave structure of EURUSD in 4-hour timeframe
In the 4H time frame, the price is trending up. The current price is within the supply zone of the Daily chart. If the price declines and surpasses the bearish CHOCH position, the possibility of a pullback is very high.
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After surpassing the top of the daily frame, the price dropped sharply, creating a SWEEP signal in the daily frame. In the 4H frame, the price has now crossed the new CHOCH position (1.09187). There is a high possibility that prices will continue to decrease.