US Dollar Bullish Zigzag if Price Breaks Resistance

December 4, 2017

By Admiral Markets

Hi Traders,

The EUR/USD is building a bearish ABC zigzag within a larger wave 2 which could take price back down to 1.1650-1.1750. This zone could act as a support and bounce spot too.

The GBP/USD is in an uptrend but a larger bearish pullback could take price back to the broken resistance. This support zone could restart the larger uptrend.

The USD/JPY is showing bullish momentum and could continue with the uptrend if price breaks resistance or after filling the gap.

Watch the 10 min video here:

Free Reports:

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




Many green pips,

Chris Svorcik

Follow
@ChrisSvorcik on twitter for latest market updates.
Connect with
Chris Svorcik on Facebook for latest Forex and education tips.

Article by Admiral Markets

Source: US Dollar Bullish Zigzag if Price Breaks Resistance

Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

 

7 years ago