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EUR/USD Downtrend Persists and GBP/USD Retraces to 38.2% Fib

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD continues its downtrend but the angle of the channel remains shallow. Divergence (purple) and the yearly low (green) also remain present. 1 hour The EUR/USD broke the channel (dotted green) and posted one more lower low. Price however failed to break below the 138.2% Fibonacci level which therefore does not invalidate the wave X (blue). GBP/USD 4 hour The GBP/USD is in a downtrend but a support trend line (green) is nearby, which will act as important bounce or break

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