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Remarkable Wave Patterns Develop In Forex Market

Discussion in 'Technical Analysis' started by Kaitlin, Jun 10, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD did not manage to break above the 61.8% Fibonacci resistance level and instead broke below the support trend line (dotted green). This bearish breakout has seen strong momentum but price is still above long-term support (green). For the moment this dip has been marked as wave X (purple)[​IMG]

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