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EUR/USD Breaks Resistance and Accelerates to 78.6% Fibonacci

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD respected the 78.6% Fibonacci level after price broke the resistance at around 1.1325. The invalidation level of the wave 1-2 (brown) is the purple line. A break below support most likely confirms the development of the wave 3 or C (green). 1 hour The latest bullish price action could have completed wave C (blue) or there could more upside remaining as price makes a wave 3 and 4 (green) within C. GBP/USD 4 hour The GBP/USD is currently showing a bullish retracement

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