EUR/USD, GBP/USD Switch Momentum Direction After Bullish Breakout

Discussion in 'Technical Analysis' started by Kaitlin, Aug 10, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    The EUR/USD managed to break above the resistance trend line (dotted red), which has indicated has lead to a change in wave structure where wave 1 (purple) has been completed at the recent bottom. Wave 2 (purple) is invalidated if price manages to break above the 100% Fibonacci level.[​IMG]

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