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How Resistance Levels Are Central Factor In Today's Forex Market

Discussion in 'Technical Analysis' started by Kaitlin, Apr 20, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD did not break below support (green) and in fact broke the resistance line (dotted orange). This increases the chance that the bearish price action was a retracement for a wave X (purple) which respected the 38.2% Fibonacci level.[​IMG]

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