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GBP/USD Breakout Alert, EUR/USD Bounce At 50% Fibonacci

Discussion in 'Technical Analysis' started by Kaitlin, May 31, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD retraced to the top of the downtrend channel, which is a strong resistance zone and a potential continuation spot within wave C (blue) or wave 3 (purple). A bearish 123 (purple) becomes more likely when price is able to break below the 161.8% Fibonacci target.[​IMG]

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  2. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    It's still pretty undecided. It will probably remain that way until the NFP.
     

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