EUR/USD bullish bounce at 50% Fibonacci retracement level

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD bounced at the 50% Fibonacci retracement, which could be part of wave X (blue). A bullish continuation could see price expand towards Waves Y. 1 hour A break below the dark green line could indicate a continuation of Wave X (blue). If price stays above it then a wave 1 and 2 could be unfolding (orange) within a larger ABC (green). GBP/USD 4 hour The GBP/USD is in a contracting triangle chart pattern. A break below the support trend lines is needed before price can

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