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Wave structures explain complicated US Dollar charts

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD showed a bullish attempt to break above the heavy resistance layer at 1.15 but failed to push above it. The failure to break means that price is still moving sideways in between strong layers of support (green) and daily resistance (red). The wave C (blue) could now be completed but the wave count will depend on how price breaks the consolidation zone. 1 hour The EUR/USD made one more push up yesterday as expected within a wave 5 (green) but then fell quickly back to

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