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EUR/USD bounces 400 pips at Fibonacci target

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD made a deep bearish retracement but eventually price did show a large 400 pip bullish bounce at the 100% Fibonacci level taking price from 1.0825 to 1.1225. A bullish continuation could see price expand towards the waves Y. 1 hour The bullish bounce at the 100% Fibonacci level was very impulsive. It seems most likely that price will build an ABC bullish zigzag (green). GBP/USD 4 hour The GBP/USD broke above the resistance trend line (dotted red) for an extended

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