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US Dollar Uptrend Showing Signs of Struggle

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD is showing an attempt to break the resistance (orange) of the downtrend channel. A breakout could indicate the completion of wave 5 (brown). 1 hour Yesterday the EUR/USD made a pullback for wave 4 (purple) and then posted a lower low, which could mark the wave 5 (purple). The entire wave 5 (brown) has been choppy so far, which could be explained by an ending diagonal formation (wave 4 goes into wave 1 territory in that case). GBP/USD 4 hour The GBP/USD broke the

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