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Daily Wave Analysis: EUR/USD & GBP/USD Break Trend Lines in Bearish Channel

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD made a bearish fall during yesterday’s trading day but again failed to break the 138.2% support Fibonacci level. Price remains trapped between support and resistance. 1 hour The EUR/USD respected the resistance trend line (orange) and made a bearish zigzag (orange). Price was unable to break below the support trend line (green) and made a similar bullish bounce back to resistance. Price has been relatively choppy the last 2 weeks but a break of the resistance could

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