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USD/JPY Breaks Resistance of Consolidation Zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD is in a neat downtrend channel marked by the orange and blue trend lines. Divergence is present (purple) but one more wave 4 (brown) bullish correction and wave 5 bearish impulse is expected. 1 hour The EUR/USD broke below the support trend line (dotted green) and continued with its downtrend. The Fibonacci levels mark the resistance of wave 4 and the support trend line (green) the boundary of the potential wave 5 breakout. GBP/USD 4 hour The Cable bearish impulse of

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