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GBP/USD, USD/JPY Develop Reversals With Huge Momentum

Discussion in 'Technical Analysis' started by Kaitlin, Jun 1, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    The EUR/USD has slightly broken above the resistance trend line (dotted red), which could indicate the potential for a bigger correction. Price has stopped at the 23.6% Fibonacci level of wave "4 vs 3" and the wave count now expects a bigger correction to the 38.2% Fib unless price breaks[​IMG]

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