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ABC Zigzag Potential after Bull Flag Break

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD retraced back to the 38.2% Fibonacci level, which acted as support and provided a bullish bounce. A bullish rally would confirm the development of an ABC rally (brown). 1 hour The EUR/USD is building a bull flag chart pattern, which is indicated by the purple lines, and price could stop at the support Fibonacci levels. A break of the flag could indicate the completion of wave B (brown). GBP/USD 4 hour The GBP/USD downtrend channel remains intact but the strong

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