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GU Contracting Triangle, EU Downtrend And UJ Wedge

Discussion in 'Technical Analysis' started by Kaitlin, Nov 6, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    Price respected the 38.2% Fibonacci level which confirms a wave 4 (green) turn and price headed lower as part of wave 5 (green). The EUR/USD is now building a mini bear flag as part of wave 4 (blue). A break above the bottom (purple) of wave 1 (blue) invalidates the current wave structure.[​IMG]

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