πŸ” EUR/USD, GBP/USD Analysis & Setups 4-5 Nov ’18 πŸ”

2 min read

The EUR/USD made a bullish break above the falling wedge reversal chart pattern. Price also completed 5 bullish waves on 1 hour chart and seems to be ready for a bullish wave C after price completes a bearish ABC pattern. The GBP/USD is also showing strong bullish momentum and a potential for a bullish ABC zigzag pattern. Check out our ultimate Support & Resistance guide.

The EUR/USD will probably build a bearish zigzag at the head and shoulders level around 1.1425 back towards the -27.2% and -61.8% Fibonacci targets, which in turn could be a key support and bouncing zone for a bullish reversal.

The GBP/USD is expected to complete a bullish ABC pattern which could take price back up towards the -61.8% Fib target at 1.3250.

Check out the video belowΒ for the full analysis and trade plans on 4-5 NovΒ 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

EUR/USD, GBP/USD video:

Good trading,
Chris Svorcik
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of