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EUR/USD breaks resistance, USD/JPY pauses at Fibs

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD 4 hour The EUR/USD completed the wave X (blue) and broke above resistance levels (dotted red) yesterday. It is now at the 61.8% Fibonacci target, which is a break or bounce spot. A bullish continuation could price head towards the next Fibonacci target and daily resistance (red). 1 hour The EUR/USD seems to be in a wave 4 (orange) now after completing the first 3 legs earlier this week. Price cannot retrace deeper than the 50% Fibonacci without invalidating the current wave count.

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