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GBPUSD Zigzag and EURUSD Range within Waves 2

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD broke the resistance trend line (dotted red) with a lot of hesitation. Price is still respecting the heavy resistance layer at around 1.1325 which is the 61.8% Fibonacci retracement level of wave 2 (brown). A break of the various support levels (greens) would confirm the completion of the wave Y (purple) correction and wave 2 (brown). 1 hour Yesterday’s price action has been choppy as price respected both the support and resistance levels. A bullish breakout could

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