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FOMC triggers USD weakness: next waves explained

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD finally broke above the contracting triangle chart pattern as expected. This could lead to the continuation of wave C (green). 1 hour The EUR/USD could expand the bullish breakout above resistance (dotted orange) as part of the wave C (green) via an impulsive 5 waves. GBP/USD 4 hour The GBP/USD has respected the 61.8% Fibonacci support level. There was also a strong bullish reaction at that support level. Lastly there is also bullish divergence between the bottoms on

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