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Multiple Divergence Prepares EUR/USD for Pullback & Continuation

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 6, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD has (early) signs of divergence as price made a lower low but the oscillator, which has already turned green, failed to post a lower low (blue line). This could indicate that price has completed a wave 5 (purple) and that price can make a retracement for wave 4 (brown) back to the long‐term moving average (dotted purple), which is also equal to 38.2%‐50% Fibonacci levels and the previous wave 4’s (purple/blue). 1 hour The EUR/USD has double divergence on the hourly

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