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Impact of massive bullish breaks on currency waves

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD showed strong bullish momentum yesterday as price broke above the resistance levels (dotted lines). The wave count of the previous days indicated the likelihood of a bullish ABC zigzag (green). The break through the red dotted trend line also confirms that the wave C (brown) of wave X (green) was a correct wave count and invalidates the wave 3 (grey), which will be removed in future analysis. 1 hour The EUR/USD seems to have completed an impulsive wave 3 (orange) and

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