Dear traders,
the EUR/USD bearish momentum is expected to continue towards 1.15 with a maximum retracement towards 1.18-1.19. The GBP/USD remains bearish too but price either needs break below the 1.3250 support level or build a retracement to the 1.35-1.36 resistance zone.
The EUR/USD downtrend broke below the key support zone at 1.1675 and is now aiming for the next target area around 1.1450-1.15. Any bullish retracement will probably bounce at the daily 21 ema zone due to the strong bearish momentum around 1.18-1.19.
The GBP/USD downtrend is also expected to continue lower but it is important to see bear flag or triangle patterns first. A bearish break below those patterns will most likely indicate a move down towards 1.30.
Check out the video for the full analysis and trade plans on 27-28 May 2018:
Good trading,
Chris Svorcik
Elite CurrenSea
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