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EURUSD & GBPUSD Bullish Rally at Resistance Zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD bounced at the support trend line (greens) and has reached again the resistance trend line (red). Price still seems to be correcting within a wave 2 (brown), which is invalidated if price breaks above the 100% (purple) line. 1 hour A break above the resistance trend line (red) could be part of an ABC (blue) within wave Y (purple) of wave 2. GBP/USD 4 hour The GBP/USD could be breaking the resistance level (orange) of the sideways range. Waves 2 typically tend to be

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