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Chart Patterns Dominate Weekly Start of Forex Market

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD is in a well structured downtrend channel, which is marked by resistance (orange) and support (blue) trend lines. 1 hour The EUR/USD did try to break below the internal support trend line (green) but the breakout has been choppy so far. If break above the channel could see price hit Fibonacci resistance of wave 4 (brown). A break above the top (red) would change the current wave 4-5 (brown) structure. GBP/USD 4 hour The GBP/USD is currently in a wave 4 (green), which

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