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EUR/USD Completes Bullish Wave 5 and Starts Bearish Wave 1

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD seems to have completed a bullish 5 wave (green), which in turn could have completed the larger wave 2 (green) or wave B (green). Price has reached an interesting point where it will either continue with the bullish correction up to the 78.6% Fibonacci retracement level or start a new bearish impulse as marked on the current chart with a wave 1-2 (orange). 1 hour The EUR/USD broke the support trend line (dotted green) which thereby completed the bullish 5 wave

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