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ABC zigzag corrections near support and resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD continues to build a corrective chart pattern with support (green) and resistance (orange) marking its boundaries. 1 hour The EUR/USD is showing steep bearish price action with support and resistance marking the bearish impulse. A break of the trend lines could indicate the reversal or continuation. GBP/USD 4 hour The GBP/USD has reached the top of the larger downtrend channel, which could be a bearish bouncing spot. The bearish price action, however, could be part

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