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EURUSD challenges 1.15, USDJPY faces triple bottom

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD is building a small contracting triangle (orange/green). A bullish break could see price move towards the horizontal resistance levels from the daily chart (red) around the psychological round level of 1.15. A bearish break could see price fall towards the other support trend lines (greens) and expand wave B (blue). 1 hour The EUR/USD respected the 38.2% Fibonacci level of wave B (blue). The contracting triangle seems to have completed the ABCD and could now be in

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