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EURUSD & GBPUSD Develop ABC Bullish Zigzag Patterns

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD displayed bullish momentum during yesterday’s trading day, which confirmed the development of an ABC rally (brown). 1 hour The EUR/USD broke above the resistance (dotted orange) and showed a bigger bullish impulse. This could have completed a wave 3 (purple) within wave C (brown). Major resistance is nearby at 1.1, which is resistance from a higher time frame and the 61.8% Fibonacci target. GBP/USD 4 hour The GBP/USD indeed displayed a bullish bounce at the 78.6%

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