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Wave 4 Corrective Phases in Forex Market

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD bounced at the bottom of the downtrend channel and is making a bullish correction, which is marked as wave 4 (brown). The resistance zone (red), trend line (orange) and Fibonacci levels are potential turning spots for the conclusion of wave 4. 1 hour The EUR/USD is building a bear flag (green lines) chart pattern within the wave 4 but price could retrace deeper towards the Fibonacci retracement levels. GBP/USD 4 hour The Cable is in a bearish breakout below the

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