GBPUSD, USDJPY Moving Quickly In Wave C Momentum

Discussion in 'Technical Analysis' started by Kaitlin, May 27, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    The EUR/USD broke the resistance trend line (dotted red) of the downtrend channel. This bullish break is most likely a corrective wave 4 of a lower degree (see 1 hour chart). The 123 (purple) becomes more likely than an ABC if price manages to extend beyond the 161.8% Fibonacci target.[​IMG]

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