π EUR/USD, GBP/USD Analysis & Setups 6 – 7 June 2021 π
Hi Traders,
the EUR/USD made a bullish ABC followed by a bearish bounce as expected. But the bearish impulse ran out of steam soon and price action will need a breakout to decide the next step. We also review the Elliott Waves on the GBP/USD and when to expect from the Cable.
If you think our videos, analysis, and education can help you become a better trader, then we would certainly appreciate your review on Forex Peace Army or on Trustpilot.Β
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EUR/USD & GBP/USD Overview
The EUR/USD needs to break below the 61.8% Fibonacci for a bearish wave 3 or break above the 21 ema zones for a bullish wave 4-5 of wave C.
The GBP/USD remains choppy and impulsive. A bearish reversal at resistance or breakout followed by a bear flag offers the most potential this week.
Check out the video below for the full analysis and trade plans on 6 – 7 June 2021:Β
- 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
EUR/USD, GBP/USD video:
Good trading,
Chris Svorcik
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