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EURUSD's ABC Zigzag, GBPUSD's Bear Flag Pattern

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD showed a bearish bounce at the resistance trend line (orange), which is the top zone of the correction. Price has now approached the bottom of wave A which is the 100% Fibonacci level. 1 hour The EUR/USD could have posted an ABC zigzag correction (orange). A bullish bounce at support (green) could see price head back up for wave C (green). Both support (green) and resistance (orange) trend lines are important boundaries. GBP/USD 4 hour The GBP/USD downtrend has

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