Dear traders,
the EUR/USD, GBP/USD are showing bull flag chart patterns and a break of last week’s high is likely despite the rate hike on the USD.
The EUR/USD remains choppy and corrective, even after the the decision from the FED to raise interest rates in the US by 0.25% up to 2%. The bull flag chart pattern is indicating a potential bullish breakout towards the 50% Fib area around 1.1950-1.20.
The GBP/USD is also challenging the resistance trend line of the downtrend channel. A bearish bounce could indicate a downtrend continuation but only if price is able to break below 1.33 whereas a bullish breakout could see price move towards 1.35-1.36 targets.
Check out the video for the full analysis and trade plans on 14-16 June 2018:
Good trading,
Chris Svorcik
Elite CurrenSea
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