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EUR/USD Bullish Price Action Breaks Above 1.25 Resistance Zone

February 16, 2018 05:00

EUR/USD

4 hour

The EUR/USD broke above the top and resistance zone at 1.25 (red), which is confirming an uptrend continuation. The uptrend could complete a wave 5 (purple) of a wave 3 (pink), which could leave space for one more potential wave 4 and 5 (pink).

1 hour

The EUR/USD made a bullish break above the resistance trend line (dotted red) and is close to hitting the 161.8% Fib target. The broken resistance zone at 1.25-1.2525 could now become a support zone.

GBP/USD

4 hour

The GBP/USD is now testing a new resistance trend line (red). The bullish price action is showing decent momentum and could indicate a likely chance of continuation once price breaks above resistance.

1 hour

The GBP/USD is probably in a bullish wave 3 (blue) at the moment.

USD/JPY

4 hour

The USD/JPY breakout broke below the -27.2% Fibonacci target is continuing towards the next target at the-61.8% Fib near 105.

1 hour

The USD/JPY indeed made a retracement towards the top of the falling wedge pattern before continuing lower and breaking below the -27.2% Fib target.

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