US Dollar ABC Zigzag Approaching Support

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD 4 hour The EUR/USD broke above the downtrend channel and is now approaching resistance levels. Price is most likely still in a wave C (brown) but a break of the current bottom (purple) could indicate that wave C has been completed. 1 hour The EUR/USD could be in a wave 4 (purple) shallow pullback. Typically this retracement does not below the 50% Fibonacci level. A bullish bounce could see resistance at 1.11 (red) and the 61.8% Fibonacci target. GBP/USD 4 hour The GBP/USD remains

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