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Trend lines on EUR/USD indicate multiple patterns

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour An EUR/USD is building an ABC zigzag within the larger triangle formation. 1 hour The EUR/USD has multiple support (green) and resistance (red) trend lines above and below price action. GBP/USD 4 hour The GBP/USD is correcting the downtrend via a WXY (green) as part of a larger wave 4 (purple). A break below support and the wave X bottom (green) could lead to bearish breakout whereas a bounce at support could price correct longer in wave Y (green). 1 hour The GBP/USD fell

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