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US Dollar's Dramatic 'Close And Reverse' After Completing Waves 5

Discussion in 'Technical Analysis' started by Kaitlin, May 4, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    The EUR/USD reached the 61.8% Fibonacci target before showing a 'close and reverse' formation which sparked strong bearish price action. However, the support trend line (green) needs to break before the waves Y of wave 4 (blue) can be considered completed.[​IMG]

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