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EURUSD Bounce vs. GBPUSD & USDJPY Breakout

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD is in a down trend channel (orange/blue) and price is near the bottom and support. There is also a bigger support zone (green), which will either provide a bullish bounce in case of a wave C or a bearish break in case of a wave 3. 1 hour The EUR/USD is showing a falling wedge chart pattern formation (orange/green), which is on average known to be a bullish reversal. The current wave count with wave X (blue) is invalidated once price breaks below the Fibonacci levels

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