? EUR/USD, GBP/USD Analysis & Setups 21-22 August ’18 ?

2 min read

The EUR/USD broke above the 50% Fibonacci retracement level and is creating a strong bullish move. A bull flag pattern could confirm a continuation towards 1.16-1.17 after which a bearish ABC could occur. The GBP/USD is also impulsive and bullish but it is running into a key resistance at the 50% Fib.

EUR/USD is showing massive bullish breakout and a continuation is likely after price builds a bull flag chart pattern. The impulsive price action seems to be a wave 3 which could indicate a larger bullish reversal.

GBP/USD is also in strong bullish impulse but price still needs to break above the 50% Fibonacci level, which is a key resistance zone. A break or bounce will determine whether the GU is a wave 4 and downtrend OR starting a new up swing.

Check out the video for the full analysis and trade plans on 21-22 August 2018:

  • EUR/USD, GBP/USD technical analysis
  • Review of patterns, trends, key S&R levels
  • Explanation of potential trade ideas both up and down
  • Beginner friendly, explaining concepts in more detail

See the video below for all of the details

Good trading,
Chris Svorcik
Elite CurrenSea

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