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EUR/USD builds both bullish and bearish ABC zigzags

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD has completed a bullish ABC (green) zigzag but the entire correction could be prolonged via a WXY (blue). This wave count is invalidated when price breaks below the support trend line (green). 1 hour The EUR/USD is making a potential bearish ABC (green) correction within wave X (blue). GBP/USD 4 hour The GBP/USD has made a bearish turn at the 38.2% Fibonacci level of wave 4 (purple). Price might expand the entire bullish correction via a WXY (blue) towards the 50%

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