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Fibonacci Levels Present Breakout Spots In Forex

Discussion in 'Technical Analysis' started by Kaitlin, Aug 24, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD is in a contracting triangle chart pattern (red/blue lines) at the 61.8% Fibonacci retracement of wave E vs D. A bullish break could price make an extension of wave 5 (green) towards the 78.6% Fibonacci level. A bearish break (below blue) however could be a first indication that[​IMG]

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