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Major Forex pairs turn at Fibonacci and break support

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD broke the support trend line (green) and could be expanding the wave X (purple) correction. The wave count is vulnerable to change if price breaks below the 78.6% Fibonacci level. 1 hour The EUR/USD seems to be building an ABC bearish zigzag (orange) down towards the wave X (purple). GBP/USD 4 hour Price is making a lower low most likely as part of wave 5 (blue) within wave 3 (pink). 1 hour The GBP/USD could still be in a wave 4 (grey) especially if price stays below

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