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EUR/USD & GBP/USD Building Bear Flag And ABC Correction

Discussion in 'Technical Analysis' started by Kaitlin, Oct 28, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD is probably in a wave 4 bear flag formation (bottom is geen line) and could head lower again at the wave 4 Fibonacci levels. A break above the 50% Fibonacci retracement level and the resistance trend line (red) would invalidate the wave structure. A break below the trend[​IMG]

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