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EUR/USD Approaching Critical Bottom and Yearly Low

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD is reaching a key support zone (green), which will either provide a bullish bounce with wave C, a bearish break with wave 3 or a sideways consolidation (wave 3 or C). The presence of double divergence (purple) increases the likelihood of a bounce. The Fibonacci levels are showing the wave C targets (green). A wave 3 becomes more likely once price manages to break the 161.8% target. 1 hour The EUR/USD completed a bullish ABC zigzag (green) and now it might be making a

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