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EUR/USD in Wave 4 Retracement at Resistance Confluence

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD oscillator has made a retracement back to the middle of the indicator (purple box) after previously showing strong bearish momentum (orange box). This means that there is a high probability of a downtrend continuation from the Fibonacci retracement levels like the 38.2% and the 50% to complete wave 5 (purple) of 3 (brown). After that a shallow pullback could indicate 1 more wave 4 and 5 (brown) to finish wave C (green). 1 hour As long as the EUR/USD stays below the

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