USD pullback and continue

November 21, 2016 08:17

The EUR/USD contracting triangle has been broken and the weekly downtrend seems ready to continue once price manages to break below the bottoms at 1.045 and 1.05. However, in the meantime price could complete an ABC retracement back to resistance first before the new downtrend continues. The same patterns could be visible on ther USD pairs too, such as the USD/JPY, AUD/USD and GBP/USD.

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