Hi Traders, the EUR/USD is testing last week’s weekly low and the 78.6-88.6% Fibonacci retracement levels. The GBP/USD also needs to either bounce or break the previous bottom at 1.26 before a clear direction is possible.
If you think our videos, analysis and education help you become a better trader, then we would certainly appreciate your review on Forex Peace Army, thank you!
The EUR/USD is showing strong bearish momentum but a bullish bounce is still the most likely scenario unless price clearly breaks the double bottom pattern at 1.1108.
The GBP/USD is also likely to build a triangle chart pattern unless price breaks below the 1.26 support zone.
Check out the video below for the full analysis and trade plans on 30-31 May 2019:
Good trading,
Chris Svorcik
Leave a Reply