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EUR/USD & USD/JPY Developing ABC Zigzag Formation

Discussion in 'Technical Analysis' started by Kaitlin, Oct 22, 2015.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    The EUR/USD broke the resistance (dotted red) and has moved up towards the 38.2% Fibonacci level of wave 2 (orange). Typically waves 2 tend to see deep retracements on average, which could see price move towards the 61.8% or 78.6% Fibs. A break of support (olive green) could trigger the[​IMG]

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