GBP/USD Building Wave 4 Retracement in Down Trend

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD 4 hour The EUR/USD is making a bullish retracement within the down trend channel (orange/blue). The current yearly low of 2015 (green) and the double divergence (purple) could be reason for a bullish rally. A break below the channel and the yearly low increases the chance that a wave 3 (green) is developing rather than a wave C (green). 1 hour The EUR/USD broke the resistance trend line (orange dotted) but the bullish price action has been choppy. Price is now building a small bullish

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