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EUR/USD and GBP/USD continue bullish ABC patterns

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD indeed seems to be building a bullish rally after breaking above the resistance trend line (dotted orange). The most likely wave count is an ABC zigzag (blue) 1 hour The EUR/USD could be building a bearish ABC zigzag (green) within wave B (blue). GBP/USD 4 hour The GBP/USD is in a potential wave 4 (pink) retracement. This pullback is strongly challenging the bottom of wave 1 (pink). A break above resistance (orange) will certainly make current wave count invalid. 1

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