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Bullish ABC Zigzag Creates Breakout Above Trend Line

Discussion in 'Technical Analysis' started by Kaitlin, Jul 12, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD is bouncing at the support levels (green) of the larger consolidation zone (orange/green). The correction is most likely part of a larger wave 2 (brown) via a WXY (purple). Price needs to break below the support (green lines) levels before a wave 3 (green) continuation is likely whereas[​IMG]

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