? EUR/USD, GBP/USD Analysis & Setups 16 – 17 Mar ’20 ?

Dear Traders,

The EUR/USD is back to its equilibrium point around 1.11. The US interest rate cut to 0% favors a bullish bounce. The GBP/USD made a massive drop from 1.32 to 1.23. A bearish continuation is best suited but a flag is needed.

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The EUR/USD is likely to break above 1.1230 and move towards 1.1325 and later on 1.14-1.1450. That said, a breakout remains vulnerable to false moves and a pattern on lower time frames is needed before taking any trades. This is valid for both bearish and bullish breakouts.

The GBP/USD remains under pressure at the 78.6% Fibonacci support. It remains best to wait on the Cable for more info.

Check out the video below for the full analysis and trade plans on 16 – 17 Mar 2020:

• 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
Elite CurrenSea