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EURUSD and USDJPY in remarkably robust trend channels

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD is building a bearish correction towards the 38.2% Fibonacci level of wave X (blue). 1 hour The EUR/USD is in pro-longed corrective bearish channel. A break below the 50%/61.8% Fibonacci increases the likelihood that price is not retracing but reversing. A break above resistance (red) increases the chance that the bearish price action is a retracement. GBP/USD 4 hour The GBP/USD made a pullback towards the 38.2% Fibonacci level of wave 4 (green) after completing wave

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