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ABC zigzag patterns connect waves in FX market

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD respected the resistance trend line (orange) and is forming a minor rising wedge chart pattern (orange/green). Price still has some space left before it hits major horizontal resistance (red). 1 hour The EUR/USD seems to be building an ABC bullish zigzag (orange). A break below the bottom (100%) level invalidates the current wave outlook. GBP/USD 4 hour The GBP/USD is back into contracting triangle chart pattern. Price is in a bullish retracement territory as long as

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