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EUR/USD and GBP/USD waves explain bullish breaks

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD has bounced at the 38.2% Fibonacci level of wave X (blue) and has broken above the resistance (dotted red) trend line. 1 hour The EUR/USD could have started a wave 3 (green) or C within wave A (blue). A break below the support trend line (green) would change the wave 123 (green) into an ABC. GBP/USD 4 hour The GBP/USD is building a larger bounce, which could still be part of a wave 4 (green). This wave count is invalidated if price breaks above the 78.6% Fibonacci

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