EURUSD and USDJPY develop quick ABC zigzag corrections

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD broke the bullish trend channel (dark blue), which could indicate a larger correction back to the support trend line (green) via WXY (blue). A break below the support trend line (green) confirms the completion of wave 4 (blue) whereas a bounce at or above support (green) indicates that the wave 4 is not yet finished. 1 hour If price continues lower as part of wave C (green) it could move towards the Fibonacci targets of C vs A. A break above resistance (orange) could

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