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EUR/USD retraces to 78.6% Fib and channel support

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD is in a bullish trend channel (dark blue) within a larger wave 4 (blue) correction. 1 hour A break below the 100% Fibonacci level invalidates the current wave count. A break above resistance (orange) could see price complete the ABC (orange) zigzag. GBP/USD 4 hour The GBP/USD is moving sideways in a corrective zone within the wave 4 (purple). 1 hour The GBP/USD choppiness could make various wave corrections possible. At the moment the charts are showing a bearish ABC

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