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US Dollar Slow Bullish Correction Implies Further Weakness

Discussion in 'Technical Analysis' started by Kaitlin, Aug 2, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD is building a flat consolidation zone which is a passive correction. Prior to the correction, price was showing bullish momentum so a renewed bullish continuation seems likely at this point. The Fibonacci levels of wave 2 vs 1 are resistance levels, but a break above 100% invalidates the wave count.[​IMG]

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