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Major currency pairs move towards Fibonacci targets

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD continued its bearish momentum yesterday but still remains above support levels like the Fibonacci retracements and trend line. This zone could turn out to be a zone where price will show a bullish bounce (if it breaks above resistance) or a bearish break (if it breaks below support). 1 hour The EUR/USD could be in a wave 4 (orange) as long as price does not go above the 78.6% Fibonacci retracement level, which is the invalidation spot, before showing a new lower

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