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USD/JPY continues downtrend, GBPUSD & EURUSD show struggle

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD made a bullish bounce at the support trend line (green). Price is in bullish territory as long as price stays above that support level. Main target is the resistance line (red). 1 hour The EUR/USD wave 4 as shown yesterday was invalidated when price retraced deeply. Eventually price did make a bullish bounce but the wave count has been changed to show 2 ABCs (orange) within a wider WXY (green). GBP/USD 4 hour The GBP/USD broke the resistance (orange dotted) of

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