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EUR/USD Jammed Between Resistance Fibs & Support Lines

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour Whether the EUR/USD is indeed in a wave 1-2 (brown) depends if price will make a bearish turn prior to breaking the top (purple line / 100% Fib). A break of the various support levels (green) could initiate the start of the wave 3 or C (green). 1 hour A break above the local resistance (red) and 78.6% Fibonacci level could see price move up to complete wave 5 (green) at for instance 1.1420-25. A break below the support Fibonacci levels (4vs3) and 2 of the trend lines could

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