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Major Currency Pairs Initiate ABC Zigzag Corrections

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD remains in a narrow price range since the beginning of December. A bearish breakout below support (green) could see an expansion of wave X (brown) whereas a bullish breakout above resistance (orange) could see a continuation of wave C (purple). 1 hour The EUR/USD continued its bearish retracement yesterday without breaking the bottom of wave B (purple). A break below that bottom (green) invalidates the current wave 1-2 (blue) whereas a break above resistance (yellow)

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