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EURUSD & GBPUSD Break Above & Below Bull Flag

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD bounced at the 38.2% Fibonacci level. which acted as support and provided a bullish bounce. A bullish rally would confirm the development of an ABC rally (brown). 1 hour The EUR/USD broke above the bull flag (dotted purple) but price action has been slow and choppy so far. Price will need to break above the current resistance (orange) before a bigger impulse could occur. A break below support (green) could indicate the chance of a larger bearish correction to the 50%

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