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GBPUSD, USDJPY bullish breaks slam into fresh resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD remains in the small bear flag chart pattern (orange and green trend lines). Price could use the broken support (dotted green) as resistance but a break above it (purple) could indicate that the bearish price action was a mere retracement. A bearish break of the bear flag could indicate that a larger retracement or even reversal (and completion of wave 4) is taking place. 1 hour The EUR/USD chart is showing 2 wave possibilities. The main scenario is a bearish

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