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Impact of massive bullish breaks on currency waves

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD has reached the 100% Fibonacci target of wave C vs. A (green). If price corrects with a shallow retracement and shows a contracting formation, then the wave count will most likely change to a 12345 instead of the current ABC. 1 hour Within the wave C (green) the EUR/USD could still have 1 more bullish continuation remaining if price can break above resistance. Yesterday the EUR/USD bounced off a shallow Fib level which confirmed the wave 4 (orange). GBP/USD 4 hour

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