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Classic chart formations: EURUSD triangle, GBPUSD deep 78.6% retrace

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD continued with building a contracting triangle (orange/green). Price also remains above support trend lines (greens) but has strong daily resistance nearby too (red). A bullish break could see price move towards those resistance levels around the psychological round level of 1.15. 1 hour The EUR/USD did not break below the 38.2% Fibonacci level of wave B (blue) and has continued to move sideways within the triangle chart pattern. A bearish break could see price fall

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